WHAT YOU CAN DO TO PROTECT YOUR BUSINESS The cannabis industry is fraught with liability for business owners: changing regulations, counterfeiting, compliance, and cyber security to…
Cannabis manufacturing continues to have growing potential as a profitable business investment due to the rapid expansion of the retail market. However, there are several issues that cannabis manufacturing companies often face that threaten the livelihood of their operation, and insurance is necessary to protect against those threats.
Cannabis manufacturers face many laws and regulations to ensure compliance. These laws can pose serious threats if non-compliance issues arise. It is crucial for cannabis manufacturers to invest in cannabis-specific insurance policies to protect their production operations, assets, employees, and long-term future.
Each state determines specific cannabis manufacturing laws that require adherence to ensure the safety of all parties including the customer. Non-compliance results in excessive fines and for many businesses total losses.
State regulations also decide which data obtained by the lab must be listed on the packaging of the cannabis products.
Regardless of the market, cannabis manufacturing facilities are at a considerable risk of legal liability issues that could result in significant financial losses.
The following is a list of cannabis product packaging laws that are widely respected by manufacturers within the industry, but not necessarily applicable to all locations.
Accidents happen and sometimes contaminants find their way into products during the manufacturing process. Cannabis manufacturers are at an elevated risk of legal repercussions when these products reach the hands of consumers.
Millers Insurance Group offers policies that meet the needs of cannabis manufacturers — supplying coverage for cannabis product manufacturing, including cannabis product insurance, and ensuring employee protection.
Cannabis manufacturing insurance has the potential to protect cannabis businesses from several liability issues.
Read more about the policies below or contact us for a free consultation and quote!