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Since 2009, Greenpoint Insurance Advisors, LLC has provided commercial insurance, risk identification, and solutions to hundreds of cannabis retailers, cultivators, and manufacturers within regulated markets. This experience has allowed JB Woods to witness why certain cannabis companies either succeed or fail. Typically, the latter has nothing to do with insurance. But rather, a lack of understanding by the organization and its members to understand the nature of risk particularly in the cannabis industry.
The types of risk a cannabis operation is likely to encounter include many of the following:
- Adminstrative and Agency Risk
- Compliance: Going Above and Beyond
- Risk with signing contracts and agreements
- Product Liability from cannabis and its derivatives particularly as a manufacturer
- Fortuitous: theft, fires, and employee injuries
- Protecting Your Reputation
- Partnerships can be either an asset or liability
- Corporate Governance
- Corporate Structure
- Insurance: Are you prepared to do business with a cannabis insurance company?
- Ancillary Companies and Independent Contractors: Are you assuming their risk?
We hope to provide you with the assistance necessary to avoid or control certain risks in this wonderful industry.
DISCLAIMER: We are not licensed in all states. This information is not meant to induce or solicit new insurance clients and should not be construed as such.
Greenpoint Insurance Advisors, LLC
July 2009 - present
President and Founder of Colorado based Greenpoint Insurance Advisors, LLC
Denver Business Journal
New York Times
Marijuana Business Daily
It has been one year since Lloyd’s of London exited the cannabis industry, can you speak to the impact, if any, that has made on the industry?