Who Offers The Best Insurance For Marijuana Grow Operations In Canada?
The answer to who offers the best insurance for marijuana grow operations in Canada is not a simple one as the Canadian P&C insurance industry is still behind in the development of insurance for marijuana grow operations in Canada. Despite some insurers tardiness insurance for marijuana grow operations in Canada and other marijuana and cannabis related businesses is available through ALIGNED Insurance. ALIGNED Insurance brokers are a team of experienced commercial insurance brokers who specialize in business insurance have the experience and expertise needed to help negotiate the best insurance for marijuana grow operations in Canada.
What Types Of Growers Can ALIGNED Help Secure Insurance For?
ALIGNED Insurance brokers are pleased to be able to provide the best insurance for marijuana grow operations in Canada for a wide range of growers including those who use a private residence, rented dwelling and/or dedicated commercial production sites.
Regardless of whether you are just growing for personal use or operating as a designated licensed producer and are using a residence to grow marijuana ALIGNED can provide the best insurance for marijuana grow operations in Canada.
Commercial Licensed Producers/Growers
We provide insurance coverage for all forms of licensed producers for marijuana and marijuana products including oil extractions.
What’s Covered By Insurance For Marijuana Grow Operations In Canada?
Like any business involving the manufacturing of products, there are numerous risks associated with running a marijuana grow operation and also numerous cannabis insurance products that the expert business insurance brokers at ALIGNED insurance will help place for you including:
The cannabis market is still being defined and redefined by the federal, provincial and municipal governments, cannabis producers and consumers who make adjustments based on trial and error that are shaping the cannabis market. Directors and Officers of cannabis companies are key players in determining the future of the cannabis industry in Canada and their decisions are having an immediate impact on the companies they lead and the market itself. As such, they are under intense scrutiny and one “wrongful act” could lead to costly litigation for which those directors and officers are personally liable. Attract and retain top talent to fill those important roles by protecting them with Directors & Officers coverage as part of your Cannabis Insurance plan. Click the link for more details.
As a marijuana grower and cannabis retailer, your company is likely involved in construction and/or renovation projects related to the growing, reaping, cultivating, manufacturing, warehousing, packaging and shipping of your plant-based products. If anything goes wrong on those construction projects and someone is injured or someone else’s property gets damaged, as the project owner, your company is ultimately responsible. Wrap-up Liability protection in a Cannabis Insurance package is comprehensive coverage for construction projects that will likely involve several contractors and sub-contractors who may or may not have their own insurance.
This is a temporary coverage that will need to be bundled into your Cannabis Insurance plan if your cannabis company is involved in construction or renovation projects. Think of it as property insurance coverage for the duration of the construction project as property insurance policies do not cover your property while it is undergoing construction or renovation because of the increased risk. It is also important to notify your broker once the project is complete as your property insurance policy will need to be updated.
As alluded to above, it is assumed that your cannabis company will have Commercial Property coverage in your Cannabis Insurance plan. The fact that you likely have agricultural and cultivation/manufacturing/packaging operations means that you have fields, crops, buildings, and equipment that need protection from fires, floods, gas leaks, storms and other perils.
The fallout from equipment failure, especially in cannabis production, usually includes losses due to lost or wasted product. Something as simple as a thermometer breaking down can cause a chain reaction that ends up spoiling hundreds of plants. Equipment Breakdown coverage included in your Cannabis Insurance plan can cover the cost of repairing or replacing damaged equipment and the losses resulting from the breakdown.
Since cannabis is mostly consumed, there is a potential for harm to the consumer. Be it flower, edible, oil or other product, a glitch in the growing, manufacturing or packaging of your cannabis products could result in illness or injury to the consumer. Your Cannabis Insurance plan will most likely include Commercial General Liability coverage as it protects your company against personal injury lawsuits and other protections that are standard for almost all businesses. Click the link for more information.
If you become aware of your cannabis products having the potential to harm consumers, it’s vital to recall those products and protect the public. The costs and logistics of a recall can be daunting but are unavoidable when necessary. Fortunately, you can get Product Recall protection as part of a Cannabis Insurance plan. Product Recall Insurance can cover you for the costs of a recall such as recall expenses, disposal costs, replacement costs, lost profits and brand rehabilitation costs. Click the link for more details on Product Recall coverage.
All of the above cannabis insurance products for marijuana growers in Canada are available from various top Canadian insurance companies ALIGNED Insurance works with.
To Discuss Who Offers The Best Insurance For Marijuana Grow Operations In Canada? Or For Insurance For Marijuana Grow Operations In Canada Connect With One Of Our Many Licensed Canadian Business Insurance Brokers Today at 1-866-287-0448
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