What Insurance Does A Marijuana Company Need In Canada?
While the legalization of marijuana from Victoria to St. John’s and everywhere in between is now in place, new business ideas are popping up everywhere and the question “What insurance does a marijuana company need in Canada?” is trending online search. If you’re investigating business opportunities within the medical or recreational cannabis marketplace, you’ve got a lot of research to do. And, before you commit yourself to a new venture, understanding the growth potential as well as possible roadblocks is an important starting point. If you want to know “What insurance does a marijuana company need in Canada?” we’ve brought together some pertinent insights below.
Related Matters: Financial Post – Canadian cannabis investor gets lifetime U.S. entry ban as conference goers face scrutiny at border
First and foremost, the cultivation, marketing, sales and production of marijuana is highly unique. Unlike other consumer products, the standard insurance placement process does not apply to the marijuana business. In fact, at present, only a limited group of insurance companies are ready and more importantly, willing to underwrite the unique risks associated with operating a marijuana company in Canada.
What Insurance Does A Marijuana Company Need In Canada? Get rolling with these insights…
Even though the cannabis business and your marijuana company may be new, our experienced ALIGNED insurance brokers have already cultivated a thorough understanding of what it takes to evaluate the highly specific risks related to cannabis. They understand the limited marketplace that will insure a marijuana company and can help confirm the best available insurance options for a marijuana business in Canada.
Related Matters: Government of Canada – Apply for a cannabis licence
Some of the risk exposures that your marijuana company may face include:
- Inventory spoilage as well as high fire potential
- Expensive inventory as well as high exposure to business interruption risks
- Misinterpretation of Canadian cannabis laws and regulations
- and more…
Get ALIGNED With Answers To “What Insurance Does A Marijuana Company Need In Canada?”
Regardless of where your marijuana company is located in Canada, as the owner / operator of a cannabis business you are part of an exciting new industry. Your marijuana company may be online, bricks & mortar or a joint old-school & digital venture. To help you secure the best coverage for a marijuana business in Canada, getting ALIGNED with an insurance broker who thoroughly understands the nuances of the Canadian cannabis insurance marketplace is of utmost importance.
First things first. The process starts once you complete a business interruption worksheet and a statement of values – we’re here to help you get rolling. And if your business also grows cannabis, you’ll need to also complete a marijuana growers insurance application.
For More Information Regarding What Insurance Does Marijuana Company Need In Canada Or To Find Out What Insurance Does A Marijuana Company Need In Canada Connect With One Of Our Canadian Insurance Brokers Today.
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Source(s): Financial Post – Canadian cannabis investor gets lifetime U.S. entry ban as conference goers face scrutiny at border