Cannabis Essentials Insurance Program

Conifer’s cannabis insurance program is underwritten by a carrier with an A.M. Best Rating of A (Excellent). This rating reflects the carrier’s strong financial stability and ability to meet ongoing insurance obligations, providing clients with confidence in the reliability of their coverage.

In Michigan, Conifer’s cannabis insurance program operates on an admitted basis, meaning it is licensed and regulated by the state’s insurance department. In other states, the program functions as an Excess & Surplus (E&S) lines insurer, offering flexibility to cover unique or higher-risk exposures not typically handled by admitted carriers.

Note: The program is not currently available in Florida.

Business Owners:

To obtain a signed and notarized attestation J or 2-D form, contact your insurance agent. They will coordinate with a member of our underwriting team to fulfill your request. 

Agents/Brokers:

Please reach out to a member of our underwriting team.  These forms must be signed by a carrier representative.

Currently, Conifer Insurance Services offers coverage exclusively for cannabis plants cultivated indoors. This focus is due to the increased risks associated with outdoor cultivation, such as weather-related damage, pests, and theft. Indoor cultivation allows for controlled environments, reducing these risks and enabling more precise insurance assessments.

Yes, Conifer provides LRO coverage, which protects property owners leasing space to cannabis businesses. However, this coverage is contingent upon Conifer also insuring the licensed tenant operating within the leased premises. This integrated approach ensures comprehensive protection for both property owners and tenants.

Work closely with an experienced insurance agent or broker who understands the cannabis industry. Discuss your specific operations, location, and potential risks to tailor a policy that provides comprehensive coverage for your business’s unique needs. If you need help finding an experienced insurance agent or broker, please contact us!

Cannabis businesses face distinct risks not typically covered by standard insurance policies. These include regulatory compliance challenges, product liability concerns, crop damage, theft, and business interruption. Specialized insurance addresses these unique exposures, safeguarding the business against industry-specific risks.

All entities within the cannabis supply chain require specialized insurance coverage. This includes cultivators, processors, manufacturers, dispensaries, testing laboratories, transporters, and ancillary service providers. Each faces unique risks necessitating tailored insurance solutions to protect their operations and assets.

To remain informed about industry developments:

• Join industry associations, such as the Michigan Cannabis Industry Association, which provide resources and updates.
• Attend industry conferences, seminars, and webinars to gain insights into emerging trends and regulatory changes.
• Subscribe to reputable industry publications and newsletters.
• Engage with professional networks and forums dedicated to cannabis business discussions.

Staying informed enables proactive adaptation to changes, ensuring compliance and strategic positioning within the market.

Insurance is crucial for cannabis businesses to mitigate financial losses arising from various risks, including property damage and liability claims. Given the complex legal landscape and evolving regulations, having appropriate insurance coverage ensures business continuity and financial stability in the face of unforeseen events.

Cannabis businesses can obtain various liability coverages, including:

• General Liability: Protects against claims for bodily injury or property damage.
• Product Liability: Covers legal costs and damages related to issues with cannabis products, such as contamination or labeling errors.
• Professional Liability: Offers protection for businesses providing consultation, advice, or services within the cannabis sector.
• Cyber Liability: Addresses risks related to data breaches, particularly for businesses that handle customer information.

Yes, Conifer Insurance Services provides coverage options for businesses operating in multiple states. Our team understands the complexities of varying state laws and regulations and can tailor policies to ensure compliance and adequate protection across different jurisdictions.

Yes, crop coverage is available for indoor-grown cannabis plants. This protection includes risks such as fire. However, outdoor crops are currently excluded from coverage.

Yes, edibles and other cannabis-infused products are eligible for coverage under Conifer’s cannabis insurance program. Coverage options include product liability insurance, which protects against claims related to these products, such as adverse reactions or labeling disputes.