Cannasure is proud to reflect on recent successes over the past quarter, putting a spotlight on each operation & line of coverage we offer.
MI Mono-Line Property
Cultivators, Manufacturing/Processors, Dispensaries, Testing Labs, and “Vertically Integrated” operations – From $2,500 minimum to +$250k
With Michigan’s Cannabis Regulatory Agency beginning to audit each Cannabis license to confirm whether the Cannabis license holder is compliant with their General Liability coverage upon the launch of their new March 2022 laws, Cannasure has pivoted in Michigan to offer Mono-line Property. We’ve written many Property policies in 2022, in all shapes and sizes: Cultivators, Manufacturing/Processors, Dispensaries, Testing Labs, and the popular “Vertically Integrated” operations; from $2,500 minimum premium policies to well over $250,000 for Mono-line Property.
CA 8-Location Dispensary – Employment Practices Liability
$28M in Sales – $36k annual premium
Perhaps our ‘hottest’ line of coverage from our Brokerage operations, Employment Practices Liability (EPL) has been in high demand, and we’re enjoying very high hit ratios when given the opportunity to pursue a quote.
OH-Based Medical Marijuana Vertically-Integrated Operations – MGA
$5M GL Limits; TIV Greater than $10M – $98k annual premium
We continue to celebrate new milestones each quarter with the success of our MGA program. We’ve expanded our writings to Louisiana, Mississippi, New Jersey, New York, Virginia & Vermont over the past quarter in addition to maintaining solid success in the “OG” states across the country. Coverage expansions include Named Storm coverage in non-coastal counties and Assault & Battery “buy-back” options.
5-State Workers’ Compensation Binding
Via our Preferred Workers’ Compensation Brokerage Partner – $200k annual premium
Mono-line WC options are available! There’s a robust appetite for vertically integrated operations, especially covering multiple states (MSO’s), and Cannasure offers referral capabilities to sister company PMC Workers Compensation Insurance.
MA $10k LRO – Preferred Risk
Our Preferred Risk program targets smaller accounts with TIV under $5M and offers robust coverage for Builders Risk & Inland Marine coverages.
AZ-Based Dispensary – Crime
$500k Limits for Employee Theft, Industry Property in Transit & Theft of Money “Inside Premises” – $14,517 annual premium
MD-Based Vertically-Integrated Firm – Cyber
$50M Annual Sales, 3,000 Electronic Records, 240 Employees – $21,500 annual premium
WA-Based Retail/Wholesale of CBD Beverage Firm – Directors & Officers
$1M limit, “Gold” coverage enhancement, $25k retention – $20k annual premium
FL-Based Cannabis LRO – Flood
$1.5M Building Limit in a ‘High Probability’ Flood Zone – $21,832 annual premium
Note: Claim pending due to Hurricane Ian, proximity to Ft. Meyers and water damage to the building – insurance in real time!
CA-Based Cultivation/Nursery Operation – Hired & Non-Owned Auto (Monoline)
7 Full-Time Drivers with a Known Long-Term Vehicle Rental – $14,098 annual premium
MA-Based Cannabis Delivery Service for Retail Online Purchases – Commercial Auto
$1M CSL, 32 Owned Vehicles, Local Radius Delivery – $126k annual premium
Note: We beat the incumbent carrier by 20% and have earned the chance to pick up the balance of the package coverages!