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…
Have you ever had to recall a product? If so, you know how expensive and time-consuming it is.
We have good news: there is insurance that can help cover the costs of the product recall process for cannabis businesses.
Product recall coverage typically assists food, beverage or toy manufacturer companies — but is also an extremely helpful policy option for various cannabis businesses.
Typically, this type of coverage will reimburse you when you need to recall a product because it has been deemed unsafe to consume by the FDA or another governing body. This coverage may also pay for any damages associated with the recall process, such as lost sales and expenses related to creating new packaging for the replacement goods.
Certainly, every stage of the cannabis supply chain has unique liabilities and risks.
However, Millers Insurance Group’s range of coverage and policies will address the needs of cannabusinesses at any level of the marijuana industry.