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Wholesale broker to launch coverage program for cannabis industry

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Cannasure Insurance Services plans to launch a comprehensive coverage program for the cannabis industry, the MGA and wholesale broker said in a statement Tuesday.

The program will offer property, general liability, products liability, crop and excess liability to dispensaries, cultivators, processors/manufacturers, ancillary businesses, landlords and testing laboratories, the Westlake, Ohio-based company said in its statement.

Kieran O'Rourke, director of underwriting of Cannasure's MGA division, will manage the program, which will begin taking submissions February 1, the statement said.

The program is backed by Topa Insurance Group, a Calabasas, California-based commercial lines insurer.

"The cannabis industry is evolving at an unprecedented rate, and because of this so are the industry-specific risk factors and operational demands," Patrick McManamon, chief executive officer of Cannasure, said in the statement.