Cannabis Insurance Program


About our Cannabis Insurance Program

From Seed to Sale

Austin Insurance Group offers a comprehensive package of coverages with A-Rated carriers to protect the cannabis industry.

texas CBD Insurance

We offer:

  • General Liability
  • Commercial Property
  • Excess Liability
  • Product Liability
  • Workers Comp
  • Crop

GENERAL LIABILITY

The Commercial General Liability policy has been specifically designed to meet the needs of the cannabis and CBD hemp industry using both ISO and program specific coverage forms and endorsements.

This policy is available to be purchased monoline, or in conjunction with other package coverages including Property, Crop, and Products Liability.

Approved Classifications:

  • Cultivation (Indoor, Outdoor and Greenhouses)
  • 3rd Party Processors/Harvesters
  • Manufacturers
  • Wholesale/Distributors
  • Retail
  • Management offices
  • Landlords – LRO
  • Smoke Shops
  • Garden / Hydroponics stores

Coverage Highlights:

  • Occurrence Form CGL-ISO
  • Duty to Defend
  • $1,000,000 personal advertising injury
  • Minimum Premium $500.00
  • Excess Limits with the same carrier

Coverage Options:

  • $1,000,000 Occurrence / $1,000,000 Aggregate
  • $1,000,000 Occurrence / $2,000,000 Aggregate
  • $2,000,000 Occurrence / $2,000,000 Aggregate

Deductible Options:

  • $2,500

Endorsement Options:

  • $300,000 Pesticide & Herbicide Applicators (WA, MA)
  • $50,000 Occurrence/Aggregate
  • $250,000 Occurrence/Aggregate
  • HNOA Endorsement $1,000,000
  • Additional Insured Certificates
  • Waiver of Subrogation
  • Primary Wording

COMMERCIAL PROPERTY

The Commercial Property policy has been specifically designed to meet the needs of the cannabis and hemp industry using both ISO and program specific coverage forms and endorsements.

This policy is not available to be purchased monoline, and must be purchased in conjunction with the Commercial General Liability policy to form the package.

Approved Classifications:

  • Indoor/Outdoor Growers
  • Bakery
  • Analytical Operations, Assaying
  • Drug, Medicine or Pharmaceutical Prep Compounding
  • Food Sundries MFG NOC
  • Security (unarmed)
  • Store Wholesale NOC
  • Store Retail NOC/Delivery
  • Salesperson Outside
  • Clerical Office

Coverage Highlights:

  • Occurrence Form CP-ISO
  • Named Peril forms
  • Property limits up to $10,000,000 on a per-location basis
    • No sub-limit for cannabis or hemp inventory
  • No Maximum number of locations – add as many locations as you need with no restrictions
  • Outdoor Business Personal Property is approved
  • No Exclusion for Sprinkler Leakage
  • 3rd Party Care/Custody/Control (Warehousemans Legal Liability) Up to $1MM with deductible options up to $50K
  • Minimum Premium $500.00

Coverage Options:

  • Real Property
  • Business Personal Property
  • Crop

Deductible Options:

  • $2,500
  • $10,000
  • $50,000

Endorsement Options:

  • Commercial Property Endorsement – Coverage Summary
    • Accounts Receivable
    • Employee Dishonesty
    • Money & Securities
    • Property in Transit
    • Property off‐Premises
    • Spoilage
    • Valuable Papers and Records
    • Outdoor Property (Fencing, Signs)
    • Outdoor Property (Trees, Shrubs, Plants)
    • Personal Effects of Others.
  • Commercial Property Endorsement – Premiums
    • Form A – $25,000 per peril in policy aggregate – $1,000 per location
    • Form B – $50,000 per peril in policy aggregate (Money & Securities is $25k sublimit) – $1,500 per location
    • Form C – $100,000 per peril in policy aggregate (Money & Securities is $25k sublimit) – $2,000 per location
  • Loss Payee
  • Equipment Breakdown – Now Available!

EXCESS LIABILITY

The Commercial Excess policy has been specifically designed to meet the needs of the cannabis and hemp industry using both ISO and program specific coverage forms and endorsements.

General Liability must be purchased to qualify for Excess Liability.  The Excess Liability does not sit over the Hired Non-Owned Auto endorsement on the General Liability nor does it extend over the Products Liability policy.

Approved Classifications:

  • Cultivation (Indoor, Outdoor, and Greenhouses)
  • 3rd Party Processors/Harvesters
  • Manufacturers
  • Wholesale/Distributors
  • Retail
  • Management offices
  • Landlords – LRO
  • Smoke Shops
  • Garden / Hydroponics stores

Coverage Highlights:

  • Occurrence Form
  • Follow Form (Extends exclusively over CGL policy)
  • Minimum Premium $1,000.00

Coverage options:

  • $1,000,000
  • $2,000,000
  • $3,000,000
  • $4,000.000

PRODUCT LIABILITY

The Products Liability policy has been specifically designed to meet the needs of the cannabis and hemp industry using both ISO and program specific coverage forms and endorsements.

Unlike other markets that offer Products Liability coverage, 100% of our policies are issued without any exclusions to cannabis, hemp, or the derivatives thereof.

Approved Classifications:

  • Cultivation (Indoor, Outdoor and Greenhouses)
  • 3rd Party Processors/Harvesters
  • Manufacturers
  • Wholesale/Distributors
  • Retail
  • Garden/Hydroponics stores

Coverage Options:

  • $100,000/$100,000 Aggregate
  • $1,000,000/$1,000,000 Aggregate
  • $1,000,000/$2,000,000 Aggregate
  • $3,000,000 CSL
  • $5,000,000 CSL

Deductible Options:

  • $2,500
  • $5,000
  • $10,000
  • $25,000

Coverage Highlights:

  • Scheduled Cannabis, Hemp and CBD Products
  • Non‐Cannabis, Hemp and CBD Products (As Scheduled)
  • Duty to Defend
  • Defense Outside of Limits – Available Endorsement Option
  • Product Withdrawal Reimbursement of Expense (Endorsement is Required)
  • Minimum Premium ‐  $1,000

Endorsement Options:

  • Retro Active Date – (up to 5 years)
  • Additional Insured Certificates
  • Waiver of Subrogation (no charge)
  • Primary Wording (no charge)
  • Vendor AI Certificates $100 ea./$250 Blanket
  • Commercial Product Withdrawal

Commercial Product Withdrawal Coverage Options:

  • $100,000 Aggregate
  • $250,000 Aggregate

Deductible Options:

  • $1,000 (only offered on $100,000 limits)
  • $5,000
  • $10,000
  • $25,000

WORKERS COMP

Our Workers Compensation Coverage is exclusively for the cannabis and hemp industry. Our program is the only program created for the cannabis industry and is an alternative to the state run comp programs. We provide compensation to employees injured or who become ill during their employment.

Program Highlights:

  • All Legalized Marijuana States
  • New Venture/New Hire Accepted
  • Mid-term Moves Accepted
  • A+ Rated Carriers
  • Guaranteed Cost Available
  • 5 Payment Options (Monthly Reporting Available)

Approved Classifications:

  • Cultivation (Indoor, Outdoor, and Greenhouses)
  • Processors/Harvesters
  • Extraction
  • Manufacturers
  • Wholesale/Distributors
  • Retail
  • Laboratories
  • CBD & Hemp Operations

Program Minimums:

  • Premium: $2,500

Submission Requirements:

  • Acord 130
  • CV Loss Runs (if Applicable) 3 Years
  • WC Supplemental
  • ExMod sheet (If Applicable)
  • State Issued Cannabis Permit
  • List of Commonly Owned Entities
  • Drivers List & MVR’s Required (Delivery Only)

For more information or to get a quote please email us at aig@texas.net

CROP

The Commercial Crop “Living Plants” policy is specifically designed for the cannabis and hemp cultivation industry, which provides unique coverages that no other program offers today.  This policy covers the perils of theft and fire and is currently offered to indoor cultivation operations.  All seeds, plants, harvested and finished stock must be indoors for coverage to be available.

Crop coverage must be purchased in conjunction with a package policy and is not available monoline.

Approved Classifications:

  • Cultivation (Indoor and Greenhouses)
  • 3rd Party Processors/Harvesters

Coverage Options:

  • Seeds
  • Seedlings
  • Vegetative Plants
  • Flowering Plants
  • Harvested Plants (3rd Party Processors/Harvesters are only eligible for class)
  • Finished Stock

Deductible Options:

  • $2,500
  • $10,000
  • $50,000

Coverage Highlights:

  • Minimum Premium $500.00
  • NO sub-limit on seeds, seedlings, indoor living plants, harvested material and finished stock.
  • Crop coverage extends when the seeds, seedlings, living plants, harvested and or finished stock is located in an approved scheduled building and or greenhouse.
  • Any seeds, seedlings, living plants, harvested and or finished stock that is located in an unapproved building and or greenhouse, or is located outdoors, will be excluded from crop coverage

Coverage Options:

  • Up to $10M per location (no maximum number of locations per policy)

 

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