New York (June 8, 2022) – Jencap Group LLC (Jencap) has launched an exclusive, niche program offering monoline Site Pollution Liability (SPL) for cannabis risks. The program is specifically designed for cannabis growers, processors, laboratories, warehouses, and retailers. It is a non-admitted, A+XII rated program available in all U.S. states where cannabis is legal for recreational and medical use.
“The cannabis industry is expected to reach $45B in 2025 and up to $100B over the next 10 years. That growth is only possible if cannabis businesses can successfully mitigate risk through their insurance portfolios,” explains Doug Mangus, Managing Director of Jencap Specialty Insurance Services. “Jencap is thrilled to launch this exclusive, innovative program that will fill a much-needed coverage gap in the cannabis industry for Site Pollution Liability. This program is underwritten by environmental specialists and brings unparalleled expertise to Jencap’s agency partners.”
Jencap’s new SPL program fills the coverage gaps that exist with Commercial General Liability and Excess Liability policies for the cannabis industry, as these policies often exclude losses resulting from pollution/pollutants on, at, under, or emanating from an insured location.
For more information on this exciting new program, visit JencapGroup.com/cannabis-site-pollution-liability.
About Jencap Group
Jencap Group LLC (Jencap) is one of the largest wholesalers in the U.S. with notable industry-leading expertise in wholesale brokerage, binding authority, and program management. Its specialized divisions and affiliate organizations provide niche underwriting prowess, broad market access, and nationwide influence. Headquartered in New York, Jencap leverages its collective power to exceed the expectations of more than 20,000 independent agency partners. For more information, visit JencapGroup.com.
Managing Director of Marketing