Cannasure Insurance is providing stress relief for legal cannabis businesses across the country. Since cannabis is still a schedule 1 drug and federally considered illegal, business that are operating in the industry are having trouble finding a place to put their stacks of cash. Federal banking institutions are fearful from being shut down if they take the cannabis industries money.
Cannasures Insurance will covers insurance for dispensaries, processors/manufacturers, ancillary businesses, landlords and testing laboratories in the industry. The reason why insurance for the industry is so important is because most businesses are operating legally in the state they do business in but, federally illegal according to the US government. This difference in policy has lead to a thriving industry in recreational states as well as overall confusion on what the current status of the law is. Cannasure Insurance is capitalizing on this.
CEO Patrick McManamon stated “The cannabis industry is evolving at an unprecedented rate and because of this so are the industry-specific risk factors and operational demands.”
Businesses will be covered for up to $5 million in general liability, which will include all aspects of their operation. Everything from delivery drivers, retail dispensaries, finished goods, cannabis cultivations, fire, theft, and even lawsuits. The company is starting to take clients today!
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