Insurance for the Cannabis Industry

Insuring your cannabis operation is an important undertaking best entrusted to agents who understand the unique exposures of this industry. The Nine Point Strategies advantage is extensive market knowledge and dedicated customer support – both key to successfully managing your risks. We represent the cannabis industry’s leading carriers to provide you with the best coverage available.

General Liability

A comprehensive risk management program begins with a General Liability policy to protect your business against lawsuits for bodily injury and property damage to others. Contact one of our agents for a no-obligation policy review to make sure you have the coverage you need.

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Property Insurance

Another fundamental coverage is Property insurance. We provide coverage against loss from fire, theft and vandalism, protecting your investment in buildings and tenant improvements, business personal property, manufacturing equipment, inventory, crop and finished stock.  Call us to discuss your Property coverage requirements.

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Crop Insurance Coverage

Crop coverage is available for indoor and greenhouse grows to protect you against loss from the physical perils of Fire, Theft, Wind and Hail. For full-spectrum coverage inquire about combining Crop with Business Income and Equipment Breakdown for a complete property protection solution.

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Products Liability Coverage

It’s true – cannabis never killed anyone. What is also true is that almost anyone can bring suit against you if you manufacture, test or sell cannabis products.  Our policies provide you with Duty to Defend coverage to protect your business if named in a suit by consumers alleging harm from your products.

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Workers Compensation Insurance

Nine Point Strategies knows Workers Compensation, and we understand that working with cannabis poses no greater risk to employees than most other products. Clients use our CompShield program’s systematic claims process and our in-house Safety Department to help reduce their Work Comp costs.

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Concentrations

  • Retail Dispensaries
  • Cultivators
  • Processors
  • Manufacturing
  • Laboratories
  • Smoke Shop
  • Landlords of Cannabis Tenants

Other Products

  • Cyber Liability
  • Workers Compensation
  • Directors & Officers
  • Physicians Errors & Omissions
  • Employment Practices Liability
  • Course of Construction

Other Services

HR Consulting
OSHA & Workers Comp
Employee Benefits
Employee Benefits

Applications

New Business Application – Click here to access our new business for insurance application.  Coverages includes general liability, property, crop and product liability coverages.


Additional Location Application – This is used for current clients that need to add a new location to their existing policy.


Workers Compensation Application – Complete this application to receive a quote for Workers Compensation.


Builders Risk Application – If you are starting construction on a new location and need coverage during the remodel or build, complete this application.

Why Choose Nine Point Strategies

Nine Point Strategies is a specialty division of Stratton Agency, Inc. located in San Carlos, CA.  Stratton Agency has been a leading provider of Insurance & Risk Management Services since 1914 and has emerged as a leading brokerage for specialty insurance placement.  As a proud recipient of the Best Practices Designation by the Independent Insurance Agent & Brokers Association (IIABA) since 2009, you can be confident that you are working with a success partner that knows what it is like to be on the Top Shelf of what we do.

Automate Your Business

CSR24 is our Self-Service, Online Policies Services Portal where you can request changes & edits to your policies, download certificates, store documents and so much more. To learn how CSR24 can help your business today, talk to one of our Expert Customer Service Representatives now at (855) 507-2622.

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Webinars

As a Nine Point Client, you will benefit from our Free webinar series offered by or HR Division, HR Ideas.  If you are a client and would like access to our webinars, please contact your NPS representative for your free coupon code.

General Liability Insurance

A dispensary is really just a retail store – albeit one with extraordinary security. And while that is how industry insiders and cannabis consumers understand these facilities, it’s a perspective still completely foreign to the vast majority of insurance underwriters and their companies.

It’s even harder for them to accurately assess the relative risks of indoor agriculture, baking with cannabis, or extraction operations – which is why it is so challenging to place coverage for this segment. We work only with carriers who understand your operations and welcome the opportunity to provide you with the coverage you need.

And you can be sure we won’t fail to disclose the true nature of your business, leaving you with a policy of questionable value. This is not the way we treat our insureds.

Instead, we represent only those carriers whose policies are tailored to the unique risks of the cannabis industry. Full disclosure means the right policy with the correct coverage, so our clients are assured of having a policy that truly protects their business.

We Recommend General Liability for these cannabis operations:
  • Retail Dispensaries
  • Cultivation/Growers
  • Manufactures
  • Laboratories
  • Processors
  • Smoke Shops

Benefits of General Liability

  • Bodily Injury Liability Coverage: Helps protect you in case injuries occur to other people resulting from your business operation
  • Property Damage Liability Coverage: Protection in case damage occurs to the property of others
  • Personal Injury Liability coverage: Helps protect you for offenses such as false arrest, libel, slander, and wrongful entry
  • Advertising Injury Liability Coverage: Helps cover your legal liability for a variety of offenses arising out of the advertising of your business’s goods and services

Key Coverages

  • General liability with limits of up to $1M per occurrence, $2M aggregate
  • Stated value for cannabis stock & inventory, to include flower, edibles and concentrates
  • Cargo for short hop delivery service
  • Product liability
  • Excess policies of up to $4M

Property Insurance

Your business personal property, aka furnishings, fixtures and equipment, is the foundation of your operation. Could you afford to replace everything tomorrow if it were all lost to fire or theft today?

If so, then you may be comfortable self-insuring. If however you’d rather transfer that risk we can help.  Coverage is available for everything under your roof, from point of sale systems to light deprivation systems to kitchen equipment to roto-vapes.

If you are leasing to own extraction or other equipment we can name the manufacturer or finance company as a Loss Payee.

Crop, Finished Stock and Inventory coverage are also available. Our program was designed with grower input to provide the coverage you want.  We insure product to stated value and, with the right endorsements, your policy can even cover lost profit.

Do you own the buildings housing your operations? Our carriers will provide you with coverage, as they accept and understand the nature of your business.  For those that are leasing, some landlords require that lessees insure their Tenant Improvements.  Or you may just want to protect your own investment.  Either way, we have you covered.

We Recommend Property Insurance for these operations:
  • Retail Dispensaries
  • Cultivation/Growers
  • Manufactures
  • Laboratories
  • Processors
  • Smoke Shops

Benefits & Key Coverages

  • Protection from theft, fire vandalism
  • Equipment breakdown covering loss of income resulting from malfunction, utility interruption, and more
  • Stated value for cannabis stock & inventory, to include flower, edibles and concentrates
  • Business personal property such as lights, fans, RO and air filtration systems, security equipment
  • Tenant improvements such as room buildout, HVAC and other electrical upgrades
  • Greenhouses coverages

CROP INSURANCE COVERAGE

Our Crop coverage was developed in collaboration with growers to meet their needs. By being able to insure any – or all – phases of growth we provide big and small grows with the flexibility to manage their risk while also keeping a lid on premium costs.

Whether you are running short or long cycles, an indoor or greenhouse grow, whatever your grow media, we tailor your coverage to your needs and your risk tolerance.

With our NEW Stock Throughput Program (STP) your benefit is to Insure to true wholesale plant values reflecting your investment in time, materials and labor costs.  Our Stock Throughput Program (STP) policies cover the entire lifecycle of your Product, including during Transport!

We Recommend Crop Coverage for these cannabis operations:
  • Retail Dispensaries
  • Cultivation/Growers
  • Manufactures
  • Laboratories
  • Processors
  • Smoke Shops

Key Coverages & Benefits of Crop Coverage

Product Liability Insurance

Every business that makes, distributes, tests or sells a product can be named in a lawsuit filed by a consumer alleging that that product harmed them. What is your defensive strategy?

Mounting an effective defense is neither simple nor inexpensive, and the costs of even a successful outcome can cripple an otherwise sustainable enterprise.

Our Products Liability coverage provides you with the carrier’s Duty To Defend and $1M per Occurrence/$2M Aggregate Limits. Don’t gamble that you’ll never become ensnared in a costly legal action – with a Products policy you can rest easy knowing that you’re protected while capping the costs of this protection at a reasonable premium.

We Recommend Product Liability for these cannabis operations:
  • Retail Dispensaries
  • Cultivation/Growers
  • Manufactures
  • Laboratories
  • Processors
  • Smoke Shops

Key Coverages & Benefits of Product Liability

Workers Compensation

Employers of cannabis operations need workers compensation for various reasons. Most need it by law, some need it to satisfy contracts and others simply value their business and want to take care of their budtenders, grow technicians and all the other employees if and injury or illness during employment occurs.

Workers compensation & a safety first culture is ultimately needed for the vitality of your cannabis business. With a sudden on-the-job accident, you can risk losing all you have grown in this competitive industry along with unforeseen costs that could cripple cash flow and valuable time. Extra expenses like time away from work, defense costs, final expenses for employee injuries and judgments are just the start.

Nine Point Strategies has formed strong carrier relationships to satisfy the need for workers compensation for the cannabis industry. Coverage is available for all cannabis operations including, but not limited to Retail Dispensaries, In-Door and Out-Door Cultivation, Manufacturers, Laboratories and Marijuana processors.

We Recommend Work Comp for these cannabis operations:
  • Retail Dispensaries
  • Cultivation/Growers
  • Manufactures
  • Laboratories
  • Processors
  • Smoke Shops
Benefits of Workers Compensation

Under a workers compensation policy, employees who suffer an illness or injury in the course of their employment will receive the following benefits:

  • Payment for lost remuneration (not necessarily all lost remuneration) while they are unable to work
  • Payment of medical and related expenses that are relevant to the illness or injury.
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