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Commercial insurance
Protect your business eliminate financial risk
Grow your business with peace of mind knowing your most valuable assets are protected.
complete insurance programs
We cover all your insurance needs
Insurance requirements for the production of cannabis, hemp and CBD are complex and ever-changing. Our top-of-the-crop team of experts understands each and every unique underwriting intricacy of the cannabis industry. We effectively assess the exposures and needs of our agency partners’ cannabis risks and provide tailor-made, winning insurance solutions.
Why us?
Why us?
• 50+ cannabis markets and growing
• New ventures accepted
• High property TIV’s available
• Multi-state operations (including transportation)
• Prior losses accepted
• Excess property coverage available
• National market reach
• Local regulatory expertise
• Occurrence and claims made form options
• Monoline and packaged options available
• New ventures accepted
• High property TIV’s available
• Multi-state operations (including transportation)
• Prior losses accepted
• Excess property coverage available
• National market reach
• Local regulatory expertise
• Occurrence and claims made form options
• Monoline and packaged options available
Which solution is right for you?
Which solution is right for you?
Whatever goal, we're here to help you determine which program is right for you.
Areas of Specialization
Growers & Cultivators
Cultivators are confronted with a wide range of dangers including fire, theft and equipment breakdown. Our focus is to provide relevant solutions to address or reduce many of these exposures, including but not limited to, living plant coverage, goods in process, finished stock, product liability and business interruption coverage.
Dispensaries & Retailers
Burglary, vandalism, fire, theft and other hazards can strike a dispensary at any moment. In the event of a disaster, most dispensaries would not be able to survive without financial stress. We offer general and product liability insurance, property coverage and more to mitigate the risk associated with these threats.
Processors & Manufacturers
Processors and manufacturers of cannabis and hemp concentrates and edible products carry many of the same standards and regulatory requirements as vendors of everyday consumer-based products. Understanding the risks associated with those regulations, ICB provides clients with leading-edge coverage solutions, including but not limited to, product liability and product recall.
Property Owners & Managers
There are inherent exposures and challenges that landlords in the marijuana industry face. We have successfully provided coverage for industrial properties, warehouses, greenhouses, strip malls, office buildings and more for landlords leasing to cannabis facilities and other businesses in the legal cannabis industry.
Testing Labs
Local and state involvement in testing cannabis products is increasing every day. ICB provides insurance against general and professional liability for testing labs.
Ancillary Business
ICB provides a variety of insurance products to ancillary businesses that serve the legal marijuana industry, such as hydroponic stores, glass blowers, tobacco and smoking device manufacturers and more.
Transportation Services
Cannabis transportation is now becoming a key element in the thriving cannabis industry. Cannabis businesses, from cultivators to retailers, need to bring products safely from point A to point B, but there are significant risks related to transportation. Business owners can either carry commercial auto policies for owned vehicles or hired, non-owned coverage for employees using personal vehicles.
Secure Transport
The transportation of marijuana is a necessary part of the cannabis industry. From seed and extraction to testing and manufacturing, or any combination, there is a risk to all parties as the most valuable stage of the finished product is at risk of theft. As a result, dispensaries, cultivators and extraction companies have turned to delivery services to protect their product from loss. Insuring the delivery of the finished product is a must for any successful cannabis/hemp business.
An Industry of Consistent Change
An Industry of Consistent Change
Gone are the days when a
$1M/$2M GL and $10M property limit are adequate for a schedule of locations. We are seeing brand new, $50M, fully-integrated facilities coming online and multi-state operators with $250M+ real estate schedules looking
to consolidate dozens of policies into a handful. Our holistic approach to these unique risks sets us apart from your average “plug and play” broker. This is what we do best. We specialize in cannabis risks and our team is standing by to add value to your next cannabis placement.
Coverage Products
General Liability
Protection against claims involving third-party injuries on the premises and property damage resulting from business operations.
Cyber Liability
Broad first-party and third-party coverage with access to expert cyber security services and claims professionals.
Crime
Protection against crimes such as employee dishonesty, theft, and fraud.
Product Liability
Protection against claims of bodily injury and property damage caused by products or services supplied through the business.
Living Plant (Crop)
Coverage for viable vegetation in a controlled, indoor environment still rooted in a growth medium.
Professional Liability
Protection against claims that a professional service or product you provided caused a customer financial harm.
Umbrella (Primary/Excess)
Additional liability insurance for when claims exceed the coverage limits of an existing liability policy.
Auto (Primary/Excess/HNOA
Coverage for physical damage and bodily injury involving a company-owned vehicle or vehicle driven for business-related purposes.
Inland Marine
Protection for property or goods in transit.
Open Peril or Special Cause of Loss Property
Protection against damage caused by any peril except those specifically excluded in the policy.
Workers’ Compensation
Coverage for the expenses, including wages and benefits, pertaining to work-related employee injury or illness.
Product Withdrawal/Recall
Coverage for an instance in which your product is recalled or withdrawn from the market because of known or suspected defects or tampering, which has caused or is reasonably expected to cause injury.
Equipment Breakdown
This Coverage applies to the cost to repair or replace the equipment and any other property damaged by an equipment breakdown.
Directors & Officers
Directors & Officers Coverage for losses arising as a result of wrongful act allegations and lawsuits brought against the directors or officers of a company.
Difference in Conditions
An “all risks” property insurance policy that is purchased in addition to a commercial property policy to obtain coverage for perils not insured against in the commercial property policy.
Stock & Inventory
Stock and Inventory
Coverage for manufactured products ready for sale or packaged and sealed inventory containing marijuana buds or its derivatives; no harvested or growing plants fall into this class.
Employment Practices Liability
Employment Practices Liability
Protection against claims that an employee’s legal rights have been violated as a result of discrimination, wrongful termination, harassment, etc.
Goods-in-Process
Coverage for partially completed goods, such as cannabis buds and flowers that have been harvested and are in the curing phase of production, that are not yet ready for sale. No stock or crops fall into this category.
Business Interuption
Business Interruption Coverage for loss of income
suffered by a business when damage to the premises
by a covered cause of loss causes a slowdown or
suspension of operations.
Cannabis
A growing opportunity combined with ever-changing risk
Cannabis
A growing opportunity combined with ever-changing risk
Business success requires risk elimination for all aspects of the operation. Protection of capital and ensuring every part of your business is secured is vital to prevent loss.