Plenty of industries are booming nowadays—fintech, on-demand, micromobility, etc. The cannabis industry, however, tops the charts for tremendous growth as well as intense social impact. With so many developments in the last half-decade, success only comes through up-to-date knowledge. When it comes to the cannabis industry and insurance, here’s what happened the past year and … Read More
We learned from the MJBizCon Next Conference and summarized the key takeaways for anyone operating or interested in the Cannabis industry in this post.
Growing cannabis does not differ much from growing any other plant, yet other than the commonly known legal reasons, there are some specific features of the plant itself which you should pay attention to should you decide to take up growing. 1. Not Keeping It Private The most important thing to remember is to not … Read More
The directors and officers of cannabis startups make some risky decisions. This is cannabis we are talkin’ about! Directors & officers insurance (D&O) allows them to do so more freely. This policy safeguards a company’s individual directors and officers from claims based on their decisions made while acting in a corporate capacity. And while coverage varies from … Read More
Successful venture capital funds (whether cannabis specific or not) frequently invest in a blended venture capital (VC) insurance policy to provide protection from three main exposures. These include management liability (also known as directors & officers or D&O), professional liability (also known as errors & omissions or E&O) and employment practices liability (EPL). These combined … Read More
We get it: the benefits of insurance for your agriculture or cannabis business can easily be overlooked when you’re just getting started. There are a million other items on your to-do list, like acquiring licenses, growing product to sell, finding investors…oh, and making money. Most new founders consider insurance as a “CYA” move so if something … Read More
Rest easy There’s no doubt about it: buying insurance for a cannabis startup company can be overwhelming. The insurance market is vast and there are a ton of products out there. It doesn’t help that the insurance industry can often seem a little, shall we say, behind the times. (Many brokers still use fax machine, … Read More
How much is this going to cost me? Over the years, we’ve encountered our fair share of companies grow beyond their “friends and family” round of financing to Series A, B, C and D rounds. As time goes by and a cannabis startup continues to expand, more employees and investors are brought on board, revenues explode and … Read More
Q: When is my cannabis startup officially covered by our new insurance policies? Ready for the short answer? It depends on the policy. There are different types of insurance policies available: occurrence policies and claims made policies. Depending on whether the policy is on occurrence basis or claims made determines when you can (or … Read More
Let’s talk a little bit about why cannabis startups need insurance, shall we? Here are just a few of the main reasons you should seriously consider getting insurance, wherever you are in the life cycle of your company. 1. To provide stability The last thing you’d ever call a startup? Risk aversive. By their very … Read More