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CannGen Insurance Services said Thursday it has launched CannGenPRO, a new division that will offer management and professional liability insurance.
The new unit will offer directors and officers liability insurance and employment practices liability for private companies operating legally in the United States, with limits of up to $5 million on a combined or single exposure line basis.
CannGenn also offers property coverage, which includes crop coverage; general liability coverage; products liability coverage; transportation insurance, including auto and motor truck cargo; workers compensation; and excess liability coverage.
Legal cannabis sales reached a record $17.5 billion in 2020, according to Charles Pyfrom, CMO of CannGen.
San Diego-based CannGen launched in 2008 as a managing general underwriter focused on the legal cannabis industry.