CANNABIS INSURANCE SOLUTIONS

PurpleRisk® cannabis insurance brokers specialize in the cannabis and hemp/CBD industry. We are constantly evolving, adding new states, and exploring new cannabis insurance carriers and coverages to best protect and advise our clients. 

As an independent cannabis insurance agency, PurpleRisk® provides coverages with the leading carriers and cannabis insurance program managers specializing in the cannabis space, some with exclusive access, to best serve our clients' unique needs. 

Our cannabis insurance coverages include, but are not limited to, the following core insurance policies that all medical marijuana, adult use marijuana, and hemp/CBD businesses should consider to mitigate and transfer risk:

• Commercial Property: "all risks" coverage for damage to property resulting from any perils except those excluded specifically by the policy. It protects buildings, contents, and business personal property against perils such as fire. 

• Crop Coverage: coverage for indoor cannabis or hemp cultivation at any stage of the growth cycle (living plants) against perils such as fire and theft.

• Stock/Inventory: coverage for manufactured products ready for sale or packaged inventory containing cannabis or its derivatives.

• General Liability: protection against third-party claims of injury and property damage arising out of the insured's premises or operations.

• Product Liability: protection against financial loss from covered claims of bodily injury and property damage relating to use of a covered product.

• Product Withdrawal/Recall: coverage for costs associated with getting a product back from the market because of a known or suspected defect which has caused or is reasonably expected to cause injury. 

• Workers Compensation: coverage for an employer's statutory liability to provide benefit payments to employees for work-related injuries or illnesses.

• Commercial Auto Liability: coverage for auto liability and property damage involving insureds that own or use autos for business-related purposes.

• Excess Liability: Additional liability coverage providing limits in excess of an underlying liability policy.

• Directors & Officers Liability: coverage for a company's board members and officers against claims of financial loss alleging wrongful acts relating to managerial decisions.

• Employment Practices Liability: coverage for claims relating to harassment, discrimination, and wrongful termination, among others.

• Miscellaneous Professional Liability: coverage against claims for damages resulting from alleged errors and omissions in the performance of the insured's professional services (e.g., cannabis consultants, laboratories).  

• Commercial Crime: coverage for exposures such as theft and robbery, employee dishonesty, loss of money or assets in transit, forgery, and fraud.

• Cyber Liability: Best-in-class cyber liability solution designed for cannabis-related businesses and combines broad first-party and third-party coverage with access to expert cyber security services and claims professionals.  

We also provide access to exclusive cannabis risk management services from qualified professionals that can mitigate your exposures and may provide better coverage terms from insurance companies, including loss control and safety services, human resources, cyber security, legal and regulatory services.

For more information, or to get a cannabis insurance quote, contact us! 

PurpleRisk® is a cannabis insurance broker, cannabis insurance specialist and licensed Property/Casualty and Excess & Surplus Lines brokerage providing insurance and risk management services to medical marijuana, adult use marijuana, and hemp/CBD businesses in the following states: 

• Arizona
• California
• Connecticut
• Maine
• Massachusetts
• Nevada
• New Jersey
• New York
• Oklahoma
• Vermont
• Other States Coming Soon!

Photo by @curt_ice