A new commercial insurance product from SafeHerb, a division of Specialty Program Group, provides a full suite of insurance protection for the cannabis and hemp industries.
SafeHerb’s Cannabis & Hemp Insurance offers “seed to sale” coverage, in-house loss control services and claims are handled by Avant Specialty Claims.
Kramer Hendricks, CIC, director of SafeHerb, said the product offers plant-touching businesses a full package policy including property and liability.
The SafeHerb coverage includes:
- General liability
- Product liability
- Equipment breakdown
- Indoor crop loss or damage
The SafeHerb products cover both cannabis and hemp businesses from cultivation to distribution.
Coverage is available to:
- Cultivators – Indoor, outdoor, and greenhouse
- Processors – Harvest, process, quarantine and test
- Manufacturers – Product development and manufacturing
- Wholesalers – Selling to retailers and distributors
- Transporters – Services with approved classification
- Dispensaries – Retail operations
- Laboratories – Stand-alone or large-scale operation
- Property Owners – Lease, sublease, and property exposure.
The coverage is underwritten by Obsidian Insurance Group.
The coverage comes at a time when the cannabis and hemp industries are experiencing dramatic growth. Thirty-six states plus Washington D.C. have medical marijuana laws and 15 states plus Washington D.C. have recreational marijuana laws.
SafeHerb coverage is available in all 50 states, plus Washington, D.C. through the company’s exclusive network of agents.
SafeHerb, division of Specialty Program Group, LLC, provides property casualty protection for those involved from seed to sale in the cannabis and hemp industries.
Headquartered in Summit, NJ, SPG focuses on expanding program underwriting and specialty businesses.
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