SafeHerb introduces a new commercial insurance product that will provide a full suite of insurance protection for the cannabis and hemp industries. SafeHerb's Cannabis & Hemp Insurance provides "seed to sale" coverage, in-house loss control services and claims are handled by Avant Specialty Claims.
"We have created a product that offers plant-touching businesses a full package policy including property and liability. We also offer to enhance the entire insurance experience from application to claim," says Kramer Hendricks, CIC, Director of SafeHerb. "There is limited coverage on the market right now for those in the industry and the packages that are out there often don't offer comprehensive coverage for companies in both the cannabis and hemp sectors."
The SafeHerb coverage includes:
- General Liability
- Product Liability
- Equipment Breakdown
- Indoor Crop loss or damage
Unlike the coverage currently available, the SafeHerb products cover both cannabis and hemp businesses from cultivation to distribution. They will offer coverage to:
- Cultivators - Indoor, outdoor, and greenhouse
- Processors - Harvest, process, quarantine and test
- Manufacturers - Product development and manufacturing
- Wholesalers - Selling to retailers and distributors
- Transporters - Services with approved classification
- Dispensaries - Retail operations
- Laboratories - Stand-alone or large-scale operation
- Property Owners - Lease, sublease, and property exposure.
The coverage comes at a time when the cannabis and hemp industries are experiencing growth. "The majority of the U.S. population now lives in states where marijuana has been legalized. Thirty-six states plus Washington D.C. have medical marijuana laws and 15 states plus Washington D.C. have recreational marijuana laws. Those involved in these fast-growing industries must have the protection they need to meet escalating customer demands for the medical and recreational uses of these products", Hendrick states.
SafeHerb coverage is available in all 50 states, plus Washington, D.C. through the company's exclusive network of agents.
For more information: