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Author Archives: Greenpoint

How will the Cannabis Industry Benefit if Admitted Insurance Carriers Start Insuring Marijuana?

Better Pricing, More Competition, and Innovate Insurance Products ©2017 Greenpoint Insurance Advisors, LLC All Rights Reserved The non-admitted insurance market has been the only provider of insurance products to the cannabis industry since the beginning.   These carriers have served an important role for cannabis companies who’ve required  insurance to meet lease obligations, licensing, and… Continue Reading

Question of the Week: My Insurance Agent or Broker is Forcing Me to Buy Marijuana Product Liability Insurance. Do I have a choice?

Are There Other Marijuana Insurance Companies that Offer Just Commercial Liability Insurance or Product Liability Insurance? Yes! This question was presented most recently when a cannabis grower needed commercial general liability only.  They weren’t interested in buying product liability insurance at the time due to cost constraints.  The additional premium was close to $2,800 per… Continue Reading

What Insurance Companies may want to Consider before Insuring the Marijuana Industry

By J.B. Woods, Greenpoint Insurance Advisors, LLC  © 2017 All Rights Reserved  (This article was originally published in Trusted Choice/PIIAC of Colorado) The most recent election captured the attention of the insurance industry when states like California, Nevada, Massachusetts, and Maine voted to legalize marijuana along with medical marijuana initiatives being approved in other states… Continue Reading

Is The Admitted Insurance Market Ready to Insure Pot?

The Golden State Could Be a Game Changer for the Marijuana Insurance Industry Breaking news out of California when The Californian reported California Insurance Commissioner Dave Jones wants admitted insurance carriers to insure marijuana.  This will not be an easy task for Commissioner Jones considering the fact Lloyds of London does not offer insurance to… Continue Reading

Trending in Marijuana Insurance–You Must Buy Two Insurance Products Tied Together as a Condition of the Sale

Insurance Carrier Mandating General and Product Liability Be Bought Together ©2017 Greenpoint Insurance Advisors, LLC Just imagine you visit an appliance store to buy a washer.  The salesperson says you must buy a dryer or we won’t sell you the washer.  Our store policy is to sell both appliances together.  You tell the salesperson your… Continue Reading

Recent Colorado Hail Storm May Have Surprised Cannabis Businesses with No Coverage

Hail Storm Creates Havoc for Marijuana Operations Hail the size of golf balls came crashing through windows and roofs from a recent hail storm in Colorado.  As a result, cannabis licensees and building owners who rent to them are likely to see an increase in hail deductibles in Colorado.   Even more concerning, we’re aware of… Continue Reading

Insurance Carrier Requirements for Cannabis Operations Make it Nearly Impossible to Obtain Product Liability Coverage

©2017 Greenpoint Insurance Advisors, LLC Just imagine you own a marijuana retail operation buying your product from several dozen growers.  You decide to apply for product liability insurance as you’ve developed a concern if a lawsuit or claim was to arise from your  product sold into the stream of commerce was to affect your company. … Continue Reading

Trusted Choice Colorado Insurance News: The Cannabis Conundrum To Insure (Are You Sure?)

The association for Colorado insurance brokers and agents Trusted Choice takes on the subject of marijuana and insurance.  According to CEO Bryan Bernier, the subject of marijuana from those out of state is a popular subject of conversation.  We thank Trusted Choice for the opportunity to contribute to their monthly publication.   It’s only fair… Continue Reading

Contemplating Cannabis Insurance? Questions Every Insurance Carrier Executive Should Ask a Marijuana Retail Insurance Broker

Due Diligence:  Insurance Carriers Interested in Insuring the Cannabis Industry With several states including California legalizing marijuana, there has been a renewed interest from insurance carriers considering insurance coverage for cannabis operations.  In fact, we most recently had the opportunity to meet with east coast insurance executives eager to learn more about insuring the cannabis… Continue Reading

Cannabis Product Liability Insurance Carrier Declining Applicants who Manufacture or Distribute Foreign Made Vape Pens

©2016 Copyright All Rights Reserved The latest underwriting requirement from a major cannabis product liability insurance carrier has them saying no to cannabis companies that apparently manufacture or distribute foreign vendor products such as vape pens.   The majority of the cannabis industry most likely buys vape pens from China.  Essentially, the insurance carrier is… Continue Reading

DISCLAIMER: Material presented by Owner website is intended for information purposes exclusively. It is not meant for professional insurance or legal advice, to induce or solicit new clients, and must not be construed as such. Each individual situation is unique and requires a licensed insurance broker or attorney in your state to evaluate and recommend insurance or provide legal advise respectively. OWNER IS NOT LICENSED IN EVERY STATE. Each insurance company, policy, and broker are unique with their terms,conditions, and product offerings placing the responsibility of the user to conduct and rely on their own due diligence.