CANNABIS INSURANCE SOLUTIONS

Purple Risk™ provides top-tier cannabis insurance solutions to the cannabis and hemp industry

SOLUTIONS WE PROVIDE

Our insurance agency specializes in the cannabis and hemp industry. We are constantly evolving, adding new states, and exploring new carriers and coverages to best protect and advise our clients. 


As an independent broker, Purple Risk™ provides coverages with the leading carriers specializing in cannabis and hemp insurance, some with exclusive access, to best serve our clients' unique needs. 


Our insurance solutions include, but are not limited to, the following core coverages that cannabis and hemp 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, theft, and natural disasters. 


  • Equipment Breakdown: coverage for the cost to repair or replace equipment and any other property damaged by the breakdown.


  • Crop: 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 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. 


  • 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.


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


  • Crime: coverage for exposures such as employee dishonesty, loss of money, forgery, and fraud.


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


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


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


We also provide access to an array of exclusive services from qualified professionals that can mitigate your exposure and may provide better coverage limits from the insurer, including loss control and safety services, cyber security, legal, regulatory, and licensing services, among others.


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

LICENSED STATES

Purple Risk™ is a licensed Property/Casualty and Excess & Surplus Lines brokerage providing insurance and risk management services to cannabis and hemp businesses in the following states (in alphabetical order): 


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