| FROM THE EXPERTS |
Your Guide to Cannabis Insurance
Marijuana regulations at the state level flip-flop on a weekly basis, making it difficult to keep up. When that happens, a new wave of laws and overturned court opinions will sweep across the country.
The only thing changing as quickly as cannabis legislation is the unique insurance needs of this budding industry. We figured you could use a go-to reference for all things cannabis insurance that is current and reliable. …You’re welcome.
Legalization by State
Click on a state below to see how it regulates cannabis. You’ll notice there are four categories: states where cannabis use is fully legal, states where medical use is legal and recreational use has been decriminalized, states that have decriminalized cannabis use only, and states where only medical use is legal.
Fully legal
Decriminalized
Medical and decriminalized
Medical only
Last Updated: March 2022
Number of states allowing reimbursement for medical marijuana under Workers’ Compensation.
BILLION
Global cannabis sales by 2026.
Number of retail cannabis
licenses in the U.S.
Exclusive Programs
Cannabis Site Pollution Liability
Cannabis business operations face significant insurance coverage gaps where pollution is concerned. That’s why Jencap established a first-of-its-kind, exclusive program that provides monoline Site Pollution Liability to cannabis risks.
The program is specifically designed for cannabis cultivators, processors, manufacturers, wholesalers, and distributors. It’s a non-admitted, A+XII rated program that is available in all U.S. states where hemp or cannabis is legal for recreational and medical use. Our program’s exclusive cannabis specific form, broad appetite that includes high hazard operations, and full binding authority that yields quick quotes is the perfect insurance solution for your clients’ next cannabis risk. Program Contact: CSPL@jencapgroup.com
Hired and Non-Owned Auto for Cannabis Couriers
Jencap Insurance Services provides an exclusive, monoline Hired and Non-owned Auto program for food and cannabis delivery services on A-rated paper. Our brokers deliver account winning solutions with their industry-leading specialization, quick turn around time on quotes and competitive rates nationwide (program not available in WV). Program Contact: john.ware@jencapgroup.com
Industry Insights
Help Clients and Build Your Business During Economic Uncertainty
2022 was a trying year for businesses and consumers alike, and 2023 will no doubt face its own set
Avoid Costly Cannabis Recalls With These Tips
Those of us working in the cannabis industry remember last year’s recall in Michigan. The cannabis recall was the
Consumption Lounges: A “Budding” Opportunity
With public opinion warming and state legislation loosening around cannabis, a new type of venue is hitting the social
Your Cannabis-Related Clients Need Proper Insurance Coverage to Mitigate Risks
Cannabis industry experts at BDSA Analytics project the global sales of cannabis will increase by 22% over last year’s
8 Reasons your Cannabis Clients Need Site Pollution Liability Coverage
The cannabis industry is expected to see exponential growth over the next few years. Market experts project the industry
Riding the Waves of Change in 2022 The Jencap Insurance Industry Outlook
If the insurance industry had posted its relationship status in 2021, it would have been “It’s complicated.” For 2022,
Workers’ Comp Cannabis Claims: States Covering Them and What’s to Come
The legalization of cannabis is a hot topic not just among lawmakers and eager hopefuls, but also in the
FAQ Regarding Professional Liability Insurance
Also referred to as errors and omissions insurance or an E&O policy, professional liability insurance is coverage for professional
Up in Smoke: Insuring Cannabis-Related Businesses
The sale of legal cannabis is projected to reach $20 billion within three years. With 33 states passing laws
Workers’ Compensation Cannabis Class Code Roulette
Determining the proper classification for cannabis businesses is not one you want to take a gamble on. If you
Stay Informed
Want to receive information from Jencap on timely marketplace trends, hot new product and program launches, and valuable product expertise that will set you up to win? Sign up below to receive email communications from Jencap.
Cannabis is not a generalist's game. Learn how Jencap provides specific expertise for cannabis coverage.
The regulatory environment and legislation of cannabis greatly impacts the commercial insurance world. Listen in as our experts discuss the implications.
This growing industry brings new challenges, like capacity limits, that Jencap is uniquely equipped to overcome.
Gaps can create frightening situations; our experts know how to ask the right questions to keep your clients covered.
With myriad factors taken into consideration when underwriting cannabis policies for cultivators, retail sellers, and businesses that are processing, manufacturing, and extracting, let's walk through what cannabis underwriters are evaluating.
Jencap cannabis insurance expert, Lee Woodall, shares specific coverages every cannabis operation will need. He also talks through how finished stock/inventory is different for cannabis operations and how evaluations for cannabis can vary from carrier to carrier.
Erich Schutz discusses the important considerations of equipment breakdown and other coverage considerations related to the emerging cannabis insurance market.
Erich Schutz, Jencap’s cannabis insurance leader, joins other industry professionals to discuss the future and nuances of covering psychedelics versus cannabis. In this evolving niche market, it’s essential to consult an expert.
Get the Jencap Cannabis Program Brochure today.
© 2023 Jencap Group LLC. All rights reserved.