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The marijuana market is moving at a quick speed, with lots of new gamers joining the marketplace and guidelines changing all of the time. Therefore, any cannabis business owner requires to guarantee that they remain updated with the policies and requirements.One essential topic for any business owner is insurance coverage, and this is especially the case when handling a market such as the one for medical marijuana.With this in mind, continue checking out to discover everything you need to know about medical cannabis insurance and your requirements as a business.What sort of insurance do medical marijuana organizations require?There is only one place to begin, and this is by having a look at the various kinds of insurance plan that are required by those in the medical marijuana industry. This consists of the following: Commercial basic liability insurance The first policy that all cannabis services are going to require is an industrial general liability insurance coverage plan. This is ...

Regulations? But it doesn't have THC! So, there are many stores that are offering CBD items, or, sometimes, are exclusively selling hemp or THC products, under the belief that they are not regulated as well as do not require unique licensing to disperse. Such ideas are misplaced and also will, as time passes, likely subject non-compliant stores as well as makers to serious sanctions and/or penalty. Hemp and CBD plants are still considered by legislation in many States and also the Federal Government to be a cannabis related product, as well as they are heavily managed. Marijuana Business Daily has a write-up published on October 15, 2018, describing generally, the issues that such sellers are dealing with. https://mjbizdaily.com/chart-the-days-of-cbd-only-stores-may-be-numbered/. 3 States with large medical cannabis programs have actually lately carried out management regulations for the market that need CBD and also Hemp items to just be marketed in licensed provisioning centers (...

As of 2018, Michigan had the highest number of cannabis production licenses in the U.S. with 215. That number has only continued to grow. Needless to say, our state has a large number of dispensaries, all competing for business. Many people look at cannabis dispensaries and somehow see them as ‘different’ from traditional businesses. That just isn’t the case! Like any other business that sells a good or service, cannabis dispensaries require some type of business insurance. The difference, however, is that there are different types of insurance plans you can choose for your dispensary based on your individual needs. It’s important to understand these different plans so you can select the right one (proper coverage). Making sure you have the right insurance in this industry is of the utmost importance. If you’ve already gone through the trouble of getting the right licensing and certifications, don’t forget to go one step further in getting the right insurance. With that in mind, let’s ...