What is EPLI? Dispensaries and other cannabis businesses face the same challenges that any organization faces with hiring and firing employees. However, several factors make dispensaries vulnerable to employment practices lawsuits. For one, the industry has a high employee turnover rate, averaging 40 to 60% churn within the first two months of employment (according to […]
Not all cannabis business insurance policies are created equal. Each dispensary or cannabis business has unique insurance needs, so policies will differ from company to company. With that in mind, there are several options that dispensaries should deeply consider before opting out. However, dispensaries routinely make the mistake of not buying enough insurance coverage in […]
The Current State of The Industry The demand for cannabis insurance continues to grow each year. As of now, 38 states and Washington, D.C. have legalized medical cannabis, and 19 states and D.C. have legalized recreational, adult-use cannabis. The conflict between state and federal law makes compliance a minefield for cannabis-related businesses (CRBs). CRBs face […]
In California, abundant rain from earlier in the year has helped delay the wildfire season, but it has also produced vegetation that has since dried and is expected to burn. Officials are warning that wildfires will follow. Already, California has experienced 3,370 wildfires this year, with more than 20,000 acres burned. As more wildfires will […]
The Excess & Surplus (E&S) Insurance market is seeing incredible growth, driven by high-risk events such as climate disasters, COVID-19, and supply line challenges. In fact, E&S premiums exceeded $31 billion in just the first half of 2022, with further growth expected throughout 2023. Why is this specialty market growing so quickly, and what do […]