Association captive offers cannabis operators cover
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Cannabis dispensaries and associated grow facilities can obtain property, general premises liability and product liability coverage through TrichomeTM, the insurance brand of the association captive owned by The National Cannabis Risk Management Association, the group said Thursday.
Products are available immediately, and additional lines of coverage and progression up the vertical are planned for later this year, the association said.
Rocco Petrilli, chairman of the NCRMA, said, “We believe that effective risk management practices are essential for moving the cannabis industry forward in a sustainable way.”
The launch of TrichomeTM, he said, “is a direct response to our members’ expressed need for fairly priced and risk management-based insurance coverage to a rapidly emerging and evolving industry.”
Mr. Petrilli said that the captive model will help “successfully forge the path to insurance sustainability and enable cannabis businesses to move forward with growth safely and responsibly.”
The National Cannabis Risk Management Association was founded in 2018 to provide risk management services to the cannabis market through education, support and expertise.
