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Washington Liquor and Cannabis Licensing Board Provides Guidance
The Washington State licensing department has confirmed with Greenpoint Insurance Advisors, LLC after our request, product liability insurance is not required for I-502 licensees. Washington Liquor and Cannabis Board licensing representative indicated the following :
The statutes do not require a marijuana business to have product liability insurance. The WSLCB only requires what is stated in WAC 314-55-082, anything beyond that is a decision. It would not be required the business obtain product liability insurance from an A – Class VII or better rated insurance carrier.
I-502 Licensees will need to determine if cannabis product liability is in their best interest based on a variety of factors. However, I-502 licensees will still need to procure commercial general liability insurance according to statute.