Insurance for Cannabis Processors
Protecting your extraction and refinement processes
Cannabis processors, sometimes referred to as cannabis extraction or cannabis refiners, are essential businesses in the cannabis supply chain. These operations handle the cannabis plant after it has dried, and turn the fully harvested flower into a shelf-ready product. This stage of the process takes many years to perfect, as it is both a science and an art. So naturally, cannabis processors often require a unique set of insurance coverages.
Processor Insurance Coverage
Cannabis extraction involves advanced equipment, which effectively and exponentially increases the product’s value. These aspects of running a business present multiple types of risk, necessitating a comprehensive insurance policy. Product liability insurance is absolutely critical, and product withdrawal coverage isn’t a bad idea either. This helps cover costs associated with pulling a product off the shelf, ensuring that your business is covered if the product gets recalled for any reason.
How We Can Help
Weed Ross provides cannabis processors with a wide range of coverages and protection. Some of our suggested coverages might include:
- Product Liability: Cannabis product liability insurance for processors offers protection from lawsuits related to your product. For instance, this coverage could help cover legal costs that might arise from adverse reactions to your final cannabis product.
- General Liability: General liability coverage for cannabis processors protects your operation from a variety of risks, including bodily injury, medical expenses, property damage, copyright infringement, and more.
- Commercial Property Insurance: Commercial property insurance for cannabis extraction facilities is crucial, as it provides protection and compensation in instances of fire or storm damage, theft, and vandalism.
- Workers’ Compensation: Cannabis processors often set themselves up with a good workers’ comp coverage plan to protect themselves from financial loss due to work-related injuries, such as medical expenses, missed wages during recovery, and more.
