(Please, No Agents)
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.
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 shall 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. 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.