Insurance Provider Resource Guide
Missouri medical cannabis businesses encounter industry specific risks and challenges. We encourage our members to reach out to any of our member agents below to better understand their exposure to these risks and the coverages they may need to protect their businesses.
When Working WIth Your Insurance Provider, Be Sure To Discuss The Following:
- Coverage compliance with Missouri Medical Cannabis Program Requirements
- Policies are specifically and explicitly designed for Cultivators, Manufacturers, Testing Labs, Dispensaries and Transporters.
- Applicability and exploration of all available policies including Professional Liability, Directors & Officers Liability, Employment Practices Liability, Business Income and Cannabis Property coverage including Crop, Finished Stock and Inventory.
- Pay close attention to the list of exclusions and conditions, which can often be removed or amended. Examples as follows:
- Cannabis & Cannabis Impairment
- Foreign Products (vape batteries)
- Health Hazard
- Assault & Battery
- Employed & Contracted Security (armed and unarmed)
- Risk Management practices such as internal policies & procedures implemented to mitigate risk in addition to and in coordination of purchased insurance policies.
- Pay close attention to Liability and Property Limits. Capacity can be limited with some insurers but often negotiated with the appropriate proof of insurability.
Contact one of the MoCannTrade members below to discuss coverages for your MMJ business:
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CannGen Insurance Services*Since 2008, CannGen Insurance Services, LLC “CannGen” has been a first mover providing comprehensive insurance coverages for the cannabis, CBD, and hemp industry nationwide. CannGen is the first Managing General Underwriter (MGU) exclusively focused on the legal cannabis industry and a pioneer in analyzing the unique exposures faced by the wide range of business operations in the space. With that knowledge and experience, we created customized policies geared specifically towards this industry with the intent of providing clear coverage terms at a fair rate. As these industries have grown, our broad suite of “seed to sale” insurance solutions have positioned us as the “go to” market for independent insurance agents and brokers. *MOCANN PLATINUM MEMBER |
Contact: Eric Morrison Senior Marketing Specialist (913) 708-3508 |
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Powers Insurance & Risk Management*We have partnered with some of the most specialized insurance companies in the country to help craft policies that are tailored to properly protect businesses in the cannabis industry. As an emerging risk in the state, we are ready to assist with offering our risk management strategies to these business owners -- most of whom will experience rapid changes in their business over the next few years. Because marijuana is still federally illegal, many mass-market carriers are avoiding offering coverage. In today's environment, a cannabis business most likely won't find all of these coverage options available with one insurance company. This is why it's important to work with a risk advisor who utilizes multiple carriers and actually understands the industry (so they can properly insure it for you). *MOCANN PLATINUM MEMBER |
Contact: Chris Sullivan Risk Management Advisor (314) 333-4915 |
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Heffernan Insurance BrokersOperating a business in a rapidly evolving industry sector comes with unique operational structures and liabilities. Whether you’re propagating clones, cultivating flower, processing, manufacturing, distributing, or retailing cannabis products, your business faces legal risks every day. Heffernan Insurance Brokers has developed a focused cannabis-industry insurance that covers the full spectrum of cannabis production and retail operations. |
Contact: Tiffany B. Maggard Vice President (636) 489-0191 |
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Hempstead InsuranceRisk Mangement is a process, not a product. It’s a mindset that starts at the top and has to be practiced day in and day out throughout an organization. Our goal is to give you the framework, tools, and support to ensure the success of your risk management programs. By controlling risk on the front end, we aim to reduce the Total Cost of Risk your organization experiences over time. We focus on identifying the specific risks your organization faces, managing your exposure through a variety of risk treatment techniques, monitoring results, and adapting where necessary. |
Contact: David Layton Sr. Vice President (636) 537-5080 |
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HM Employee Benefits & Risk ManagementYour business may have competitors but your needs are unique. The insurance requirements of your industry vary from others so it’s critical to identify a broker with the knowledge to address those subtle but vital differences. HM recognizes the importance of having resources available to support the needs of our clients in the many specialty areas in which they are focused on. Our team assists clients in traditional industries, such as manufacturing and retail, as well as developing industries like alternative energy and Green-focused areas. |
Contact: Danny Stevens Sr. Vice President/Equity Partner |
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HUB International InsuranceHub International has eight North American Specialty Practices as an important part of our enterprise strategy to differentiate ourselves and better serve our clients. Cannabis is among our Specialty Practices and is represented by more than 200 full-time professionals based in more than 40 offices, with deep expertise in all key cannabis risk issues and insurance products. Representing 600+ cannabis-related clients across North America, we know the cannabis industry is growing rapidly despite being faced with a constantly changing regulatory environment, financing roadblocks, and emerging risks. These challenges are wide-ranging and require a proactive approach to risk management. |
Contact: Andrew Kirby 816-708-4600 andrew.kirby@hubinternational.com https://www.hubinternational.com/ |
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IMAIMA is headquartered in Denver, CO with offices strategically located across the country in Dallas, Kansas City, San Francisco, Wichita, Pittsburgh, PA, and Portland, OR. We have been a witness to the booming cannabis and hemp industry for nearly a decade and have developed products and services that are targeted towards your industry. Our team has traveled the country touring vertically integrated operations to make sure we are on the cutting edge of the Cannabis industry. Due to our proximity to thought leaders, entrepreneurs and professional advisory firms, we have been able to keep our finger on the pulse of the industry and can anticipate your challenges and needs. At the same time, IMA is the 6th largest privately-held broker in the US, so we've been able to leverage our general insurance, risk management and risk financing expertise spanning over 50 years to apply it to the growing cannabis and hemp industry. |
Contact: David Shepard Vice President (913) 982-3674
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Ollis/Akers/ArneyOllis/Akers/Arney’s insurance company partners are selected based on top ratings, specialized niches, and proven reliability and are continually evaluating and strengthening our relationships with these companies to ensure we are able to provide our clients the most appropriate placement and the best coverage for their risk. As a business owner, you have a million things on your mind. You're concerned about revenue, market perception, your future growth, and next year's budgets. Insurance isn’t at the top of your list. But maybe it should be. Our team of Risk Advisers at Ollis/Akers/Arney can help you create a plan to address your risk factors and protect your business. Can you really afford to push it to the backburner? |
Contact: Karen Shannon Vice President Business Consulting
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Risk StrategiesRisk Strategies is one of the most innovative insurance brokers within the cannabis space. To be innovative, we have to own the pen to underwrite, and roll out new forms for the industry. Risk Strategies is able to accomplish this task thanks to our in house underwriting expertise and uniquely positioned wholly owned subsidiaries. Risk Strategies owns One80 Intermediaries who has been bullish on cannabis since inception. One80 has built out and exclusively manages multiple cannabis industry insurance coverages ranging from crop, property, products liability, along with management liability. In early 2021 One80 closed on an acquisition with Cannasure – since 2010 Cannasure has been the top Managing General Agent in the cannabis space bringing traditional, and affordable insurance solutions to licensed cannabis operators. |
Contact: Matt Kaminsky Producer |
