Insurance Provider Resource Guide
It appears that some of the delays associated with COVID-19 have caused some changes in the timing and need to bind policies related to our Association Insurance Program and program carrier. While the possibility of working with extremely competent and qualified brokers has not changed, it appears some of the program points as originally communicated are evolving. We encourage our members to reach out to their brokers to better understand what impact the changes may have on their policies, estimates, and coverages. Our association brokers may still engage AMWINS to understand what is available currently and if any additional or expanded program points are forthcoming. For our members, all the brokers represented below can still ensure any policies and coverages meet or exceed the Missouri medical cannabis application requirements and beyond.
When Working WIth Your Insurance Provider, Be Sure To Discuss The Following:
- Coverage compliance with Missouri Medical Cannabis Program Application 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.
