First-Of-Its-Kind Cannabis Insurance Specialist Program Launches

First-Of-Its-Kind  Cannabis Insurance Specialist Program Launches

The National Underwriter Company, an ALM business, is launching one of the first certifications for risk managers, insurance agents and brokers, and other professionals who advise cannabis-related businesses.  The Cannabis Insurance Coverage Specialist program was created by ALM’s thought leaders and experts in conjunction with legal, insurance, and cannabis industry experts.

According to Molly Miller, ALM’s chief content officer, the “courses will focus on providing an in-depth look at the challenges and opportunities businesses face daily.”

“We wanted to create a forward-thinking certification that would benefit professionals serving the cannabis industry, as well as growers, suppliers, manufacturers, dispensaries and others who are a critical aspect of this still evolving industry,” said Miller.

Kieran J. O’Rourke, vice president and director of underwriting for Cannasure Insurance Services, a subsidiary of One80 Intermediaries, believes the cannabis industry faces “many of the same daily issues as other enterprises, but with some unique challenges,” notably the federal Schedule I status of cannabis.

“Educating the insurance industry about these unique risks allows carriers to better serve these expanding businesses,” said O’Rourke.

Cannabis Insurance 101, the first course in the program, will include topics such as product liability and claims, real estate issues, risk management, cannabis issues for business advisors —including attorneys and other financial services professionals — and medical and health issues surrounding the use of cannabis, including employment law concerns and workers’ compensation.

Arizona, Illinois, Ohio, and Washington state have approved the Cannabis Insurance 101 program for continuing education credits. Approval is pending in California, Colorado, Nevada, New York, and Oregon.

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