Kapnick Insurance Group, Author at Kapnick Insurance Group

Dec 08

The Underwriting Process for Cannabis Risks

By Kapnick Insurance Group Business Insurance, From the Experts

The underwriting process for cannabis risks is unique to the cannabis industry. Unlike many other industries, underwriting moves quickly. At Kapnick, we pride ourselves on being flexible yet aggressive. In many cases, carriers will quote based on applications as opposed to accord forms, so having a marketing and service team with strong connections to (more…)

Nov 29

What exactly is a surety bond for cannabis, anyhow?

By Kapnick Insurance Group Business Insurance, From the Experts

A cannabis surety bond can range from $5,000 to $5,000,000 and provides a financial guarantee to a state or municipality that a company will perform according to the laws and regulations governing your license. A surety bond does this in two ways: 1. By requiring companies to be bonded, additional scrutiny of company and leadership’s finances and credit ensures (more…)

Nov 24

Eau De Cannabis – A Kapnick Case Study

By Kapnick Insurance Group Business Insurance, Case Studies, From the Experts

The following is a case study about the environmental impact of cannabis cultivation and the importance of environmental liability coverage for cannabis operations. As more states legalize recreational and medicinal marijuana, the environmental impact of large-scale cannabis cultivation is being examined more in depth. (more…)

Nov 23

Cannabis D&O Coverage Difficult, But A Must To Protect Leaders’ Financial Assets

By Kapnick Insurance Group Business Insurance, From the Experts, Specialty Risk

In a constantly evolving and sometimes tumultuous market, directors and officers liability (or D&O) insurance is a must in order to protect the financial assets of owners, board members, and executives of cannabis companies, whether public or private. D&O insurance covers (more…)

Nov 15

The Importance of Cannabis Crop Insurance

By Kapnick Insurance Group Business Insurance, From the Experts

While cannabis crop insurance isn’t required in all states, with the primary product of the cannabis industry being a plant, it’s important and essential to have insurance that covers every stage of the cannabis growth cycle. Yet marijuana cultivation insurance coverage isn’t something you can find everywhere—especially if you grow outdoors or use (more…)

Nov 01

The New Michigan Marijuana Liability Requirement – Where to Start?

By Kapnick Insurance Group Business Insurance, From the Experts

Unsure Of Where To Start With The New Marijuana Liability Requirement? Kapnick Can Help. There is a new law in Michigan requiring marijuana liability insurance. Public Act 55 of 2021 recently amended the Michigan Regulation and Taxation of Marihuana Act. PA 55 of 2021 takes effect on October 11, 2021 (more…)

Oct 28

Cannabis Workers’ Compensation Consolidation and Access – A Kapnick Case Study

By Kapnick Insurance Group Business Insurance, Case Studies, From the Experts

The following is a case study about how common workplace hazards in the cannabis industry impact your workers’ compensation programs. THE PROBLEM A startup cannabis distribution client had multiple locations across the same state, with each location holding (more…)

Oct 18

Nine Cannabis Business Types We Advise

By Kapnick Insurance Group Business Insurance, From the Experts

Cannabis, CBD, and hemp-related organizations all have unique exposures and risk for carriers to consider. The right program will depend heavily on whether you’re cultivating, manufacturing, testing, distributing, or selling. While this is by no means a complete list, here are the top 9 cannabis business types we advise: (more…)

Oct 04

Cannabis is a Serious Industry with Serious Rewards. And Serious Risks.

By Kapnick Insurance Group Business Insurance, From the Experts

The US legal cannabis market is a serious industry and has grown at an exponential pace. In 2020 it was conservatively valued at slightly more than $15 billion, with sales having jumped 45% from the year before. Experts are projecting sales to surpass $30 billion (more…)

Aug 30

The Impact of Specialty Risk Consultations – A Kapnick Case Study

By Kapnick Insurance Group Case Studies, Specialty Risk

The following is a case study about how Kapnick’s Specialty Risk experts provided in-depth consultation of policies to ensure a real Kapnick client fully understood how their management liability coverage would respond in various claim scenarios to mitigate risk and add value to their business. (more…)

Kapnick Insurance Group

The Underwriting Process for Cannabis Risks

What exactly is a surety bond for cannabis, anyhow?

Eau De Cannabis – A Kapnick Case Study

Cannabis D&O Coverage Difficult, But A Must To Protect Leaders’ Financial Assets

The Importance of Cannabis Crop Insurance

The New Michigan Marijuana Liability Requirement – Where to Start?

Cannabis Workers’ Compensation Consolidation and Access – A Kapnick Case Study

Nine Cannabis Business Types We Advise

The Impact of Specialty Risk Consultations – A Kapnick Case Study

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