Protect Your Cannabis Company Against an Assortment of Risks
The cannabis industry is growing by leaps and bounds across North America, and the Flagstaff region is no exception. To be successful in this endeavor, it is important to secure the proper cannabis insurance in Flagstaff AZ. Just like any other business, your company faces the risks of severe weather, vandals, fire and more. Your company will also encounter unique risks as a newer industry that must deal with a changing regulatory and legal landscape.
You will also face competition from a growing market. After the passage of Proposition 207 at the end of 2020 paved the way for recreational cannabis sales, new dispensaries and operators have emerged throughout Arizona, with Flagstaff seeing a lot of activity. A HUB international insurance broker can help companies deal with the need for property insurance as well as compliance issues and product liability concerns. Having the right insurance products is one key to a thriving business model.
Obtain Cannabis Insurance in Flagstaff AZ for Dispensaries and Operators
Our office in Flagstaff has provided valuable insurance services for local businesses for many years. Our team is happy to help you establish or grow your cannabis business considering the passage of Proposition 207. You can reach us by phone or come into our office on Butler Street to discuss your situation. We offer tailored cannabis insurance in Flagstaff AZ to help your company manage risks in an emerging market for recreational cannabis sales. We provide insurance expertise across the spectrum of cannabis operations, covering the following interests:
- Facilities that grow, test, destroy and store product
- Retail entities that sell, market, or display approved items
- Wholesalers and distributors that transport across borders
- Licensed laboratories that test, breed, and archive cannabis genetics
Each of the above entities requires a different mix of insurance products to offer effective protection against losses, lawsuits, and disruptions. A HUB broker will recommend the suite of insurance products that give you the most complete protection against unexpected events at the most affordable price.
Manage Risk with a Smart Insurance Package
Depending upon your niche in the Flagstaff cannabis industry, you can experience different levels of risk exposure. If you have a physical facility, you could face property damage issues. If you transport materials locally or even internationally, you could encounter a host of exposures with drivers on the roadways. Whenever you sell products, you are potentially exposed to product liability concerns.
A HUB broker will identify your areas of exposure and build a policy that reduces your risks and helps you avoid devastating losses. A tailored package considers the following areas of cannabis insurance in Flagstaff AZ:
- Product liability in the case of a defective product causing injury
- Product recall to absorb losses due to a product being withdrawn
- Equipment malfunction that disrupts business operations
- Management liability to protect key officers from lawsuits
- Property coverage in the case of named perils
In today's world, companies also face such risks as cybercrime, employee lawsuits, data breaches and more. An experienced broker will consider all aspects of your business and help you decide which coverages are essential. This gives you peace of mind and allows you to operate without fear of major losses. A smart insurance package enables you to focus on your business and on satisfying your customers.