This coverage could make the difference to getting your products to market.
Product Liability Insurance for Manufacturers of CBD and Cannabis provided by CanaRisk Solutions.
How can manufacturers of CBD and cannabis products best demonstrate their credibility and financial stability in the marketplace? How does the “best in class” differentiate themselves from the rest of the herd?
Products liability insurance protects manufacturers from litigation brought by customers, regulators, distributors, etc. in the event a customer alleges bodily injury or property damage as a result of the use of the product. The policy provides defense cost and funds for settlements and judgments if necessary.
Products liability can often be a key differentiator for manufacturers and retailers.
Retailers will typically require manufacturers to provide evidence of products liability insurance in order to sell their products. Smaller retailers will often accept $1,000,000 or $2,000,000, but larger chains will often set a minimum of $5,000,000 or $10,000,000 in limit. Because vendors are typically included under the manufacturer’s products liability policy, the manufacturer’s policy limit is extremely important to the retailer.
CanaRisk Solutions was formed to provide the developing cannabis industry with high-level insurance brokerage and risk management services, specializing in professional liability and products liability.
Our proven risk management strategies can assist both manufacturers and laboratories to best present their products and services in a very dynamic marketplace. In addition to products and professional liability, we offer a full suite of property and liability coverages including cyber, employment practice liability and crime/social engineering.
Product Liability Insurance Quote Request
As an independent agency, we offer multiple options at competitive prices.