Every business owner needs to consider adding data breach and cyber attack coverage into their portfolio. Let us share a personal experience as an example: Our agency can provide both personal insurance and business insurance in most states-we are about 60% commercial lines and 40% personal lines in terms of premium dollars. In 2021, we […]
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Admittedly, there are so many important coverages to consider, this is no exception. Fortunately for most businesses the loss of income types of coverage would be included under your commercial property set of coverages (that is, if you are a small business owner). If you are a business that pushes north of $1,000,000 in annual
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This coverage may go unnoticed for some businesses, but for those businesses in the medical cannabis industry, it’s super important. As an example, say one of your vape cartridge manufacturers mistakenly cleans their containers with a chemical not suitable for human consumption. If people become sick upon consumption, not only will the vape maker be
Coverage for your professional recommendations or your professional failures comes from professional liability insurance. Hence the reason behind the same coverage named ‘Errors and Omissions Insurance.’ Many titles are used to represent this specific coverage set but it is almost never included with your standard general liability insurance policy. You will find most insurance agents
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We discuss this topic in various sections on this website. E and O coverage is typically class specific so a ‘blanket’ malpractice type of policy that covers all of your efforts is usually not possible. I would say impossible but there could be some insurance carriers out there that would provide an ‘everything’s covered’ type
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Coverage for your real property (building) and business property. We can also offer inland marine and coverage for rented equipment.
Property Insurance Read More »
Arguably the most important coverage within the business type is the set of coverages called ‘Personal and Advertising Injury.’ However, you will find that when an underwriter properly classifies an Advertising Firm as such, the resulting general liability coverage will exclude ‘Personal and Advertising Injury,’ but all of the other coverages typical to the general
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This can be an extremely troublesome area as federal law is still different from state laws. That is, the transportation from outside of the U.S into the U.S. would certainly be a problem. Further, in many cases even transporting the cannabis between New York and New Jersey (as an example) could result in a felony.
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Often we find multiple corporations being involved during the growth of a medical marijuana business. One LLC may own the property/building and then another ‘C’ Corporation owns the vehicles used to transport the canna. Perhaps another ‘S’ Corporation or Partnership owns the license and rights to specific strains. A different company altogether could be renting
With the onset of medical canna being legalized in many states and commonwealths in the United States, this type of business will extract oils and other waxes from medical marijuana flower for use in various devices for which the distillate can be consumed (i.e. by vaporizing, burning, or ingesting, etc).
Distillation Companies Read More »
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