Insurance Provider Resource Guide
Missouri cannabis businesses encounter industry specific risks and challenges. We encourage our members to reach out to any of our member agents below to better understand their exposure to these risks and the coverages they may need to protect their businesses.
When Working WIth Your Insurance Provider, Be Sure To Discuss The Following:
- Coverage compliance with Missouri Cannabis Program Requirements
- Policies are specifically and explicitly designed for Cultivators, Manufacturers, Testing Labs, Dispensaries and Transporters.
- Applicability and exploration of all available policies including Professional Liability, Directors & Officers Liability, Employment Practices Liability, Business Income and Cannabis Property coverage including Crop, Finished Stock and Inventory.
- Pay close attention to the list of exclusions and conditions, which can often be removed or amended. Examples as follows:
- Cannabis & Cannabis Impairment
- Foreign Products (vape batteries)
- Health Hazard
- Assault & Battery
- Employed & Contracted Security (armed and unarmed)
- Risk Management practices such as internal policies & procedures implemented to mitigate risk in addition to and in coordination of purchased insurance policies.
- Pay close attention to Liability and Property Limits. Capacity can be limited with some insurers but often negotiated with the appropriate proof of insurability.
Powers Insurance & Risk Management*
We have partnered with some of the most specialized insurance companies in the country to help craft policies that are tailored to properly protect businesses in the cannabis industry. As an emerging risk in the state, we are ready to assist with offering our risk management strategies to these business owners -- most of whom will experience rapid changes in their business over the next few years. Because marijuana is still federally illegal, many mass-market carriers are avoiding offering coverage. In today's environment, a cannabis business most likely won't find all of these coverage options available with one insurance company. This is why it's important to work with a risk advisor who utilizes multiple carriers and actually understands the industry (so they can properly insure it for you).
*MOCANN PLATINUM MEMBER
Risk Management Advisor
Heffernan Insurance Brokers
Operating a business in a rapidly evolving industry sector comes with unique operational structures and liabilities. Whether you’re propagating clones, cultivating flower, processing, manufacturing, distributing, or retailing cannabis products, your business faces legal risks every day.
Heffernan Insurance Brokers has developed a focused cannabis-industry insurance that covers the full spectrum of cannabis production and retail operations.
Tiffany B. Maggard
HUB International Insurance
Hub International has eight North American Specialty Practices as an important part of our enterprise strategy to differentiate ourselves and better serve our clients. Cannabis is among our Specialty Practices and is represented by more than 200 full-time professionals based in more than 40 offices, with deep expertise in all key cannabis risk issues and insurance products. Representing 600+ cannabis-related clients across North America, we know the cannabis industry is growing rapidly despite being faced with a constantly changing regulatory environment, financing roadblocks, and emerging risks. These challenges are wide-ranging and require a proactive approach to risk management.
Illinois Casualty Company
ICC was founded in Illinois in 1950 to provide insurance products and aggressive claims defense exclusively for the food and beverage industry. Our coverage options include liquor liability, property, general liability, umbrella, and workers' compensation.
IMA is headquartered in Denver, CO with offices strategically located across the country in Dallas, Kansas City, San Francisco, Wichita, Pittsburgh, PA, and Portland, OR. We have been a witness to the booming cannabis and hemp industry for nearly a decade and have developed products and services that are targeted towards your industry. Our team has traveled the country touring vertically integrated operations to make sure we are on the cutting edge of the Cannabis industry.
Due to our proximity to thought leaders, entrepreneurs and professional advisory firms, we have been able to keep our finger on the pulse of the industry and can anticipate your challenges and needs. At the same time, IMA is the 6th largest privately-held broker in the US, so we've been able to leverage our general insurance, risk management and risk financing expertise spanning over 50 years to apply it to the growing cannabis and hemp industry.
Risk Strategies is one of the most innovative insurance brokers within the cannabis space. To be innovative, we have to own the pen to underwrite and roll out new forms for the industry. Risk Strategies is able to accomplish this task thanks to our in-house underwriting expertise and uniquely positioned wholly-owned subsidiaries.
Risk Strategies owns One80 Intermediaries which has been bullish on cannabis since its inception. One80 has built out and exclusively manages multiple cannabis industry insurance coverages ranging from crop, property, product liability, along with management liability. In early 2021 One80 closed on an acquisition with Cannasure – since 2010 Cannasure has been the top Managing General Agent in the cannabis space bringing traditional, and affordable insurance solutions to licensed cannabis operators.
The Liberty Company Insurance Brokers
At Liberty, we believe in going above and beyond to put your mind at ease. Our experienced team intimately understands the emerging cannabis industry and its unique risks. We offer customized insurance policies tailored to your specific needs across the supply chain from pre-license build-out stage to fully operational. With innovative coverage and exceptional service from cannabis experts. We are your trusted advisors in an ongoing evolving landscape.
Here at Verde Insurance, we are eager and excited to be part of your cannabis business journey, we are laser-focused on providing the cannabis insurance experience with ease, responsiveness, and as informative as possible. Since our inception, we have focused on cannabis CBD/hemp operation insurance exclusively as we believe this plant will become an American commodity and the industry deserves its own undivided attention, all that we do revolves around the cannabis industry.
With up-to-date cannabis insurance programs coming from emerging insurance carriers and constant tuning to changes, we are committed to finding solutions, using our experience and knowledge to benefit your cannabis business.