Safety, Health and Resilience for Your Cannabis Operation
How can you protect your cannabis operation's people, profit and profitability? HUB's panel of risk management experts shares best practices on a recent LinkedIn Live special event.
WATCH NOWSupport for Your Current and Emerging Risks
Cannabis insurance is available in Canada and all US states where medical and recreational cannabis is legal. Our dedicated brokers, claims advisors, risk services consultants and employee benefits specialists can advise you on a wide range of insurance and risk management issues. Let’s work together to develop a tailored cannabis insurance and risk consulting solution to meet your needs.
Cannabis businesses face significant risk regardless of their purpose – plant growth, extraction, retail sales or distribution. Crime, employee theft, product contamination and cyber breaches are common in each discipline and must be accounted for when purchasing business insurance. A broker with industry-specific knowledgeable is a must to securing the right coverage with the right limits.
All cannabis operations will want to consider offloading risk to coverage with the following policies:
- Commercial general liability
- Management liability including D&O, crime and employment practices liability
- Product liability and product recall
- Property and crop insurance
- Equipment breakdown
- Business auto including hired and non-owned
- Care, custody and control coverage for distributors transporting third party goods
- Surety bonds
- Workers’ compensation
- Crime
- Cyber
Safe R&D extraction, employee theft and incorrect product labeling are a few of the risks cannabis businesses face daily. And without adequate organizational development, even explosive growth is a liability. Proper risk management is key to keeping insurance costs low, complying with state laws and reducing the risk of future claims.
HUB Cannabis Risk Services and Claims Management can help your business with:
- Regulatory compliance assistance
- Worker safety and security
- Operational hazard and site security assessments
- Business continuity and emergency response planning
- Transportation and fleet safety management
- US/Canada cross-border business challenges
- Claims management and advocacy services
When configured correctly, employee benefit packages in the cannabis industry can help reduce high turnover and employee theft. The first step? Examine the needs of your team. Let HUB’s experienced employee benefits team help you build the right EB program for your cannabis business.
- Small business benefit packages
- Strategic benefits planning
- Voluntary benefits
- Executive benefits
- Health & Performance
- HR and Employment Law consulting (US only)
- HUB Benefits Captive exclusively for cannabis companies
New Products Present Opportunity but Risk Remains
Protect Your Directors and Officers with D&O Coverage
HUB’s direct access to the cannabis insurance markets can help you secure directors and officers (D&O) insurance—often hard to get but essential in attracting professionals to your board.
How to reduce risk while growing your cannabis business
Don’t let common cannabis business risks catch you off guard. Learn which exposures affect you most — and learn how to reduce those risks before they happen. Find out when to transfer your business risk to insurance, and which policies are key to doing so. It’s all in this free, downloadable guide.
The guide will provide you with:
- 7 key risks most cannabis businesses face
- Best practices to reduce those risks
- Insurance coverage you need to consider
- Checklist for selecting the right broker
What Our Clients Say
“When we’re looking to deploy capital, we want to make sure our clients are properly covered. Working with HUB helps us provide effective insurance coverage for the companies we put money behind.“