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How Admiral Provides Protection for Companies in the Cannabis Industry

Admiral is thrilled to announce a recent addition to its portfolio of impressive coverage options—cannabis coverage. This coverage is designed to specifically meet the complicated requirements of the evolving cannabis industry, and is now offered in states where recreational and medicinal use are legal.

View the complete list of states where we provide cannabis insurance

Why Admiral chose to provide cannabis coverage

For years, Admiral has specialized in providing excess and surplus (E&S) coverage for commercial risks that standard markets typically won’t cover. Given the turbulent legal climate of the industry, cannabis coverage falls directly into this category.

So, we made the decision to develop a solution for the growing cannabis industry. Our cannabis coverage is available for the following classes:

  • Retailers with on-premises consumption
  • Retailers without on-premises consumption
  • Cultivators
  • Processors / Manufacturers
  • Wholesalers / Distributors
  • Medicinal and Recreational
  • Marijuana Paraphernalia and Related Products - including Vapes

Here are a few reasons why Admiral is uniquely suited to provide coverage for the cannabis industry:

  • We have proven experience and expertise with similar risks like health, nutrition & lifestyle, e-cigarettes, and liquor.
  • Admiral is large enough to support this emerging type of coverage. Yet, we are also nimble enough to adjust to the changing marketplace and industry.

What you can expect out of Admiral’s cannabis coverage

Our unique approach to cannabis insurance gives Admiral wholesale brokers the ability to offer retail agents and their customers the proper coverage for the industry.

Admiral is taking steps to provide the best coverage in the turbulent and evolving cannabis industry. Specifically, we have identified cannabis subject matter experts in each of our offices. These experts will ensure that we remain well-versed on the coverage options. They will stay up-to-date on emerging cannabis risks and the changing landscape. These experts will ensure Admiral stays one step ahead of market needs.

Additionally, as more states legalize marijuana, Admiral will be ready to quickly provide coverage solutions for newly-licensed companies.

Learn more about Admiral's cannabis coverage 

Admiral offers cannabis insurance coverage for customers that sell, grow, manufacture, or process products containing more than 0.3% THC.

Learn more about our cannabis insurance and its coverage capabilities.

Additionally, Admiral offers coverage for hemp and cannabidiol products under our health, nutrition & lifestyle product. 

 


Products and services described above are provided through various surplus lines insurance company subsidiaries of W. R. Berkley Corporation and offered through licensed surplus lines brokers.  Not all products and services may be available in all jurisdictions, and the coverage provided by any insurer is subject to the actual terms and conditions of the policies issued.  Surplus lines insurance carriers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.


 


Erich Bublitz

Written by Erich Bublitz

Erich has over a decade of experience in the insurance industry with a focus on emerging risks including cyber, technology, media and cannabis. He has held positions working in the US and Europe. He is a VP of Underwriting for Admiral Insurance based in the home office of Mount Laurel, NJ. Erich holds a pilot’s license, enjoys hiking, and spending time with his two daughters.

Topics: cannabis, marijuana insurance, marijuana dispensaries, marijuana, cannabis insurance, marijuana growers, marijuana processors



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