Tag

insurance

Dec 08

The Underwriting Process for Cannabis Risks

By Business Insurance, From the Experts
Securing insurance for your business requires moving fast and understanding industry-specific hurdles. The cannabis underwriting process is unique to the cannabis industry, and unlike many other sectors, the timeline moves incredibly quickly. At Kapnick, we pride ourselves on being flexible yet aggressive. In many cases, carriers will quote based on specific applications rather than standard ACORD forms. Having a marketing and service team with strong connections to the underwriters—and a thorough understanding of the requirements—makes it easier to get your applications in front of the right people to obtain competitive quotes. Whether you are a new venture or an existing…
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Nov 24

Eau De Cannabis – A Kapnick Case Study

By Business Insurance, Case Studies, From the Experts
As more states legalize recreational and medicinal marijuana, the environmental impact of large-scale cannabis cultivation is under greater scrutiny. Environmental concerns for cannabis operations include water and energy use, extraction practices, waste disposal, and odor. While risk management programs help reduce environmental pollutants, having environmental liability coverage is just as critical. The following case study highlights why. The Problem: Odor and Environmental Liability Flowering cannabis plants produce strong odors, which can disrupt neighboring businesses if not controlled. Courts have ruled that odors from facilities fall under the pollution exclusion in commercial general liability policies. A substance doesn’t need to be…
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Nov 23

D&O Insurance for Cannabis Companies: Essential Protection

By Business Insurance, From the Experts, Specialty Risk
In today’s evolving and unpredictable market, D&O insurance for cannabis companies is essential. It protects the financial assets of owners, board members, and executives—whether the company is public or private. This coverage includes legal fees, settlements, damages, and other costs tied to lawsuits from managerial decisions with financial consequences. Why Cannabis Companies Need D&O Insurance Common activities that lead to D&O claims include: Acquisitions, mergers, or management buy-outs Breach of contract or mismanagement of assets Bankruptcy, liquidation, or changes in ownership Defamation, libel, or slander Misrepresentation or nondisclosure Without D&O coverage, company leaders risk exposing their personal finances in lawsuits.…
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