Southern Insurance Underwriters and Siuprem have partnered to provide coverage and payment options for both medical and recreational cannabis dispensaries, as well as retail stores where 100% of the sales are from CBD or CBD related products. Being able to provide payment options for your customers will provide you a competitive advantage.
Coverage Highlights
- Payment options available through Siuprem
- Commercial general liability – premises liability (occurrence or claims made)
- Products/completed operations liability (claims made only, including prior acts)
- Budtender exposure included
- Commercial property – building coverage including equipment breakdown, business personal property (excluding outdoor plants), and business income
- Equipment breakdown coverage available
- Flexible terms and conditions
- Policies written on non-admitted paper with a group rating of “A†(Excellent) by A.M. Best
- Excellent claims service with 24/7 reporting
- Underwriting Requirements
- Ineligible Risks
- States Available
- Completed and signed proprietary cannabis application
- Loss history (3-5 years)
- For prior acts coverage: copy of the current/ expiring declarations page (with retroactive date required) and signed proprietary letter (no known incidents for claims-made products liability)
- Direct importing of related cannabis products
- Greenhouse operations
- Growing, cultivating, or processing operations
- Laboratories and research facilities
- Monoline property and monoline products
- Oil extraction operations
- Risks that allow consumption on premises
- Risks that ship/deliver products with THC across state lines
- All States