NutraRisk Adds Program for Cannabis Operations
NutraRisk, a wholesale insurance broker and program manager, has expanded its cannabis offering to include an exclusive cannabis program providing general and product liability for medicinal and recreational operations.
NutraRisk, a division of Worldwide Facilities, can also place risks in the eight states where recreational cannabis is legal through another new and expanded Recreational Cannabis Program. In addition to these new general liability products, NutraRisk can now provide a crime option for the cannabis industry as well.
“These insurance products are not yet mainstream, and the regulatory landscape is challenging,” said Morgan Moore, Life Science Practice leader at NutraRisk. “The cannabis industry at large faces significant challenges in finding comprehensive coverage. Many carriers hesitate to write these exposures and those that do often have very restrictive exclusions.”
NutraRisk has partnered with a few carriers now ready to enter into this sector and provide coverage for the various types of exposures. The approved classifications include, but are not limited to: cultivation — indoor; greenhouse and outdoor operations; dispensaries/retail shops; growers; laboratories; transporters; recreational and medicinal marijuana.