Insurance Requirements for Medical and Recreational Marijuana Transporter

JB Woods
Posted at 7/8/2017 10:09:48 AM

Colorado Law Now Requires Marijuana Transporters be Licensed to Move Product

©2017 Greenpoint Insurance Advisors, LLC

Recently, Colorado House Bill 16-1211 was signed into law requiring medical and recreational marijuana transporters to hold a state issued licensed.  Using company vehicles, these businesses provide transportation of cannabis product from licensees and may offer the ability to store product at their business location or distribution point. 

Colorado House Bill 16-1211 Marijuana Transporter Insurance[/caption]As a condition of their license, a transporter must hav...more

Categories: Investment, VC, PE Financing
Tags:
  • marijuana transporter
  • insurance
  • marijuana insurance
  • cannabis insurance
  • transport insurance
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How will the Cannabis Industry Benefit if Admitted Insurance Carriers Start Insuring Marijuana?

JB Woods
Posted at 6/7/2017 1:25:53 PM

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 as a matter of public policy.  At the same time, they've had the cannabis industry jump through many underwriting hoops ranging from how to store your product during non-business hours...more

Categories: Investment, VC, PE Financing
Tags:
  • marijuana insurance
  • admitted market
  • california marijuana insurance
  • non-admitted market
  • ancillary business
  • commercial liability
  • product liability
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Question of the Week: My Insurance Agent or Broker is Forcing Me to Buy Marijuana Product Liability Insurance. Do I have a choice?

JB Woods
Posted at 6/5/2017 1:07:15 AM

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 year.  Unfortunately, the retail insurance broker presented insurance quotes for two different insurance policies could not comprehend or consider this was beyond their budget.   The insuranc...more

Categories: Investment, VC, PE Financing
Tags:
  • marijuana
  • insurance
  • product liability
  • commercial liability
  • insurance quote
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What Insurance Companies may want to Consider before Insuring the Marijuana Industry

JB Woods
Posted at 6/3/2017 11:08:31 AM


By J.B. Woods, Greenpoint Insurance Advisors, LLC  © 2017 All Rights Reserved  (This article was originally published in Trusted Choice 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 such as Florida, North Dakota, and Arkansas.  Over half of the United States has some form of marijuana law.  According to Arcview Market Research, the marijuana industry resulted in $6.7 bi...more

Categories: Investment, VC, PE Financing  |  Consulting
Tags:
  • marijuana
  • insurance
  • lloyds of london
  • cole memo
  • cannabis
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Is The Admitted Insurance Market Ready to Insure Pot?

JB Woods
Posted at 6/3/2017 10:58:19 AM

The Golden State Could Be a Game Changer for the Marijuana Insurance Industry
©2017 Greenpoint Insurance Advisors, LLC


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 the marijuana industry. 

For those who may not know, admitted insurance carriers are well known companies approved and  subjected to regulation by the state in which they o...more

Categories: Consulting  |  Investment, VC, PE Financing
Tags:
  • marijuana
  • insurance
  • california
  • cannabis
  • product liability
  • admitted carrier
  • non-admitted carrer
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The Cannabis ECN 2017 Roster of Featured Experts

ECN Support
Posted at 5/3/2017 10:23:07 PM


Download the 2017 Roster of Featured Experts

The National Cannabis Industry Association (NCIA) is the only national trade association advancing the interests of the legitimate and responsible cannabis industry. Our industry supports tens of thousands of jobs, tens of millions of dollars in tax revenues, and billions of dollars in economic activity in the United States annually. NCIA's nearly 1200 members include some of the most notable and successful cannabis entrepreneurs and business owners from around the country. It’s their experience and expertise that make the Cannabis EC

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Crucial to your success...Co2 Extraction System Selection

AC Braddock
Posted at 2/21/2017 10:09:15 PM

Eden Labs’ Blog

Pumping Systems in CO2 Extraction:
Why and How to Evaluate Liquid, Gas Booster and Dual-pump

by Fritz Chess, Founder
CO2 Pumping Systems - Supercritical to Your Success.

When shopping for a supercritical CO2 extractor, the most important consideration is the pumping system of the extractor. This is the heart of the extractor which determines the rate and yield of oil that will be produced. Yet the pumping systems for CO2 extractors are plagued by design flaws and manufacturing mistakes. To make a wise investment in a CO2 extractor it is essential to under

...more

Categories: Extraction  |  Consulting  |  Infused Products & Edibles
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  • SCFE
  • Supercritical Extraction
  • co2 oil
  • co2 extraction
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  • eden labs
  • extraction systems
  • epilepsy
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  • terpene extraction
  • terpenes
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Cannabis Product Liability Insurance Carrier Declining Applicants who Manufacture or Distribute Foreign Made Vape Pens

JB Woods
Posted at 10/5/2016 10:45:29 PM

©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 declining these applications for product liability coverage.  The apparent reason is due to the inability by the insurance carrier to collect from these foreign companies, lack of controls, and alleged explos...more

Categories: Investment, VC, PE Financing
Tags:
  • insurance
  • product liability
  • marijuana
  • vape pens
  • application
  • insurance carrier
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