Having robust coverage that can help you withstand the evolving legal climate, regulation changes, and general business risks is crucial to running a successful dispensary operation.
In addition to basic coverage such as general liability insurance and workers compensation insurance, which are typically required, several other insurance policies can help protect your business from loss.
A property policy will protect your business’s commercial property, including inventory, from the perils of fire, theft, and natural disasters.
The right products liability coverage is also critical for dispensaries and is often something that will be paired with a strong commercial general liability policy. If a product results in harm, illness, or unwanted side effects, the customer may hold you liable.
The point of sale is typically the first point of litigation, even if you weren’t at fault for the incident. Utilizing risk transfer tools such as requesting an additional insured endorsement from your partners is critical in the cannabis supply chain. Depending on the state you are operating in, seed-to-sale tracking technology will be required for your dispensary to operate.
Running a POS, inventory management, customer loyalty, or delivery service through technology is critical to keeping up with demand and staying in compliance. Strong technology errors and omissions and cyber insurance policies will protect against a plethora of claims related to the use of technology that could cripple any dispensary.