Cannabis Liability Insurance

In the not too distant past, possession of cannabis could result in prosecution and sale or manufacture could lead to severe penalties. In the last decade, however, cannabis laws have relaxed all over the world and as of October 17, 2018 it has been legalised across Canada.

This sudden change in the law has led to a few complications, not least of which is the unique position that cannabis manufacturers and retailers find themselves in. Like all companies, they need insurance, but that insurance needs to cover more than stock and store damage. It needs to cover them in the event of a theft or fire, but also in the event of a customer having a bad reaction and blaming their product.

That’s where cannabis liability insurance comes in, and if you want the best cannabis liability insurance in Toronto, then you’ve come to the right place.

Cannabis Liability Insurance Toronto

What is Cannabis Liability Insurance

A liability insurance policy protects the policyholder against claims and lawsuits, providing cover (to an extent outlined in the specific policy) against many of the risks they face. Cannabis liability insurance works in the same way but it is focused on the cannabis industry, with the goal of protecting the manufacturers and retailers against claims relating to their product or their premises.

Cannabis liability insurance policies can be altered to suit the individual needs of the policyholder. It’s a low-cost assurance against one of many worst case scenarios that companies in this sector face, and it provides peace of mind to businesses of all sizes.

Why is Cannabis Liability Insurance so Important

Cannabis liability insurance is essential for any company operating within this sector. Insurance is sometimes mistakenly labelled as a “gamble against the worst case scenario” but this is a falsehood that downplays its necessity. This is especially true in Canada and the United States, where companies lose tens of billions of dollars to liability lawsuits every year.

Not only is liability insurance an essential part of any modern company, but cannabis liability insurance is made even more essential when you consider how young this industry is. There are precedents waiting to be set, lawyers waiting to earn their slice of the pie—within a few years we’ll likely see a huge rise in the number of liability claims made against cannabis retailers and producers.

By signing up for a cannabis liability insurance policy, you can prepare yourself for this inevitable onslaught and help to secure your investment.

What Does Cannabis Liability Insurance Cover

Cannabis liability insurance provides protection against loss, theft, damage, and bodily harm. The actual cover will depend on the type of policy and the company purchasing it, but typically cannabis liability insurance policies cover:

• Bodily Injury
• Interruption of business at insured premises
• Theft
• Property damage
• Lawsuits brought against company

You can discuss details of the policy and the things that it covers with an insurance advisor. You will also find all details of cover on the policy itself.

Who Needs Cannabis Liability Insurance

If you run a company in this sector then you can benefit from our cannabis liability insurance in Toronto. The best way to approach this is to ask yourself a question, “Could your company survive a liability lawsuit?”

For most companies, the answer would be a resounding negative. There are far too many costs involved and these costs would cripple even the most successful companies. No amount of terms and conditions and savvy contracts can save a company from these lawsuits and the damage that they do, but cannabis liability insurance can.

Why go with KASE Insurance

KASE Insurance is a top broker of cannabis liability insurance in Toronto, with years of combined experience in the insurance sector and an unparalleled level of customer support. At KASE Insurance we always put our customers first, we always prioritize support and care, and we’re constantly looking for ways to adapt and improve our services to cater for the fast-moving world of business.

We are one of the few Canadian insurance companies offering cannabis liability insurance, in addition to cryptocurrency insurance, cyber crime insurance, and other modern policies. We make it our top priority to help today’s businesses and entrepreneurs stay safe in an exciting, technologically advanced, and increasingly uncertain world.

If you run a cannabis dispensary in the Toronto area, or you are involved with the industry at any other point in the production chain, then contact our representatives today to discuss a cannabis liability insurance policy.

Read what clients have to say about KASE

By far the most professional and trustworthy insurance brokerage I have known. We have been working with this firm for number of years now and I have nothing but good to say about their team and services. Stan and his team won't stop until we are fully satisfied. They are always on top of things, super fast in their assistance and very professional. I highly recommend this firm to anyone seeking for great insurance brokerage to work with. Big Thank You to Stan and Kase Insurance for many many years of great service!

Reviewer: Alex K

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5 out of 5 stars

Stan and is team at KASE Insurance have been fantastic in explaining what insurance we needed for our business. Very hands on approach and detailed. I work highly recommend KASE Insurance for any business owner looking for great service.

Reviewer: Kyle Grooms

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5 out of 5 stars

The KASE team is very easy to work with. They answer your questions quickly, walk you through the process patiently, and find you great rates. We've been working with them for a few years and we haven't felt the need to shop elsewhere because of their customer service.

Reviewer: Sasha Boersma

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5 out of 5 stars

Read what clients have to say about KASE