Insurance Quote for Licensed Cannabis Companies in All States
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Workers compensation insurance is required if you own a cannabis business. Today, Cannasure Insurance has launched a new workers compensation insurance program for states with legal cannabis operations. This type of insurance has typically been procured through the what is known as the assigned risk pool such as the National Council on Compensation Insurance or NCCI. Now through Cannasure, cannabis companies will have greater access to an approved insurance carrier that will streamline coverage access and provide a more competitive pricing environment.
Below is the public notice by Cannasure:
06-20-2024: Cannasure is proud to announce our NEW & EXCLUSIVE Cannabis Workers’ Compensation program in conjunction with our sister company PMC Insurance Group.
Our new program has a low Minimum Premium threshold, includes ALL flower-touching operations (Vertically Integrated Ops, Cultivation, Mfg. & Retail), is national in scope and intended to be partnered with the Package coverage (WC can be written first with commit to submit the Package upon its normal expiration). Both Cannasure & PMC have additional WC markets to access in addition to our Exclusive carrier, so our WC offerings are the most robust in the Cannabis industry – we will get to a competitive proposal for your Cannabis clients.
Source: Cannasure Insurance Services
Comprehensive workers compensation coverage details
What is Workers Compensation Insurance?
Provides coverage to employees as a result of workplace injury.
Coverage includes medical and loss of income to the employee.
Provides coverage to the employer for liability.
Required by law employers must have workers compensation insurance. Failure to have workers compensation can result in fines.
What are the common employee claims and injuries in the cannabis industry?
Working in the marijuana industry, like any other industry involving physical tasks, can pose certain risks to employees. Some common injuries that employees in the marijuana industry might experience include:
- Musculoskeletal injuries: These can result from tasks such as trimming, lifting heavy containers, or repetitive motions involved in packaging or processing marijuana products.
- Cuts and lacerations: Trimming cannabis plants or handling equipment like scissors or knives can increase the risk of cuts and lacerations.
- Burns: Employees involved in extraction processes or handling hot equipment could be at risk of burns.
- Slips, trips, and falls: Wet floors, uneven surfaces, or cluttered workspaces can lead to slips, trips, and falls.
- Respiratory issues: Employees who work in environments with poor ventilation or during processes like grinding or trimming may inhale dust or particles, potentially causing respiratory irritation.
- Allergic reactions: Some individuals may develop allergies to cannabis plants or components, leading to skin reactions or respiratory issues.
- Exposure to chemicals: Depending on the job, employees might handle pesticides, fertilizers, or cleaning chemicals, which can lead to skin irritation or respiratory problems if not handled properly.
- Eye injuries: Handling plants or processing equipment without appropriate eye protection could result in injuries from flying debris or accidental splashes.
- Overexertion: The physical demands of tasks like lifting heavy bags of soil or equipment, or long hours of repetitive work, can lead to strains and sprains.
- Heat-related illnesses: In hot climates or indoor grow operations, employees might be at risk of heat exhaustion or heat stroke, especially if proper cooling and hydration measures are not in place.
To mitigate these risks, employers in the marijuana industry should implement comprehensive safety protocols, provide appropriate training, and ensure that employees have access to necessary personal protective equipment (PPE). Regular risk assessments and compliance with relevant health and safety regulations are also crucial to maintaining a safe working environment.
Need a quote for workers compensation insurance?
If you need a quote for workers compensation insurance, please complete our online application below. The application should take less than 10 minutes to complete. The type of information needed:
- Tax identification number or employment identification number.
- Annual payroll for job types such as dispensary, cultivation, manufacturing employees, laboratory, or processing.
- Breakdown of ownership of the company. Name of owners and percentage of ownership.
- Percentage of your business that is medical versus recreational.
- Type of security at your cannabis operations.