Request an E&O Quote Call (916) 967-7715
What E&O insurance covers for cannabis businesses
Errors and Omissions Insurance (E&O) is a form of professional liability coverage that protects your business in the event you’re found legally responsible for faulty advice or negligence related to your service.
If your cannabis operation makes recommendations of any sort that could lead to an unforeseen mishap that is traced back to “faulty advice,” or “negligence,” you may find yourself facing liability claims and expensive litigation. For example, a client may choose to sue their adviser after an investment goes South and blame it on the adviser’s faulty advice. Even if the court rules in favor of the investment adviser or broker, the legal fees that follow can still be very high, which is another reason why Errors and Omissions Insurance is important for your business.
You may be wondering, who needs errors and omissions insurance? If you are a business owner providing a service to someone, then you will most likely need it. If you are unsure whether you need errors and omissions insurance, contact an agent at The Cannabis Coverage Company. We will be able to guide you and help you navigate all of your questions and concerns.
Cannabis product liability issues are on the rise and by having Errors and Omissions Insurance you add an additional layer of protection to your business and to your reputation.
While dispensaries and laboratories are the operations that are most at risk for this type of scenario, our cannabis insurance agents at The Cannabis Coverage Company will take the time to find out about your business type and help you determine what type of E&O insurance is relevant to you, at a price that suits your policy.
Who this coverage is for
Testing labs, consultants, property managers, compliance firms and other cannabis businesses that provide professional services or advice.
What drives your premium
We don’t publish prices because every quote depends on underwriting. Carriers mainly look at:
- The services you provide and the contracts you sign
- Revenue and number of professionals
- Claims history and prior-acts coverage
- Limits and retentions you choose
Cannabis errors and omissions insurance FAQ
What does errors and omissions insurance cover for a cannabis business?
Errors and omissions (E&O) is professional liability coverage. It protects your business if a client claims your advice or services were faulty or negligent, including the cost of defending the claim.
Who needs cannabis E&O insurance?
Testing labs, consultants, property managers, compliance firms and other cannabis businesses that provide professional services or advice.
What affects the cost of cannabis E&O insurance, and how do I get a quote?
We don’t publish prices because every quote depends on underwriting. Carriers mainly look at the services you provide and the contracts you sign, your revenue and number of professionals, your claims history and prior-acts coverage, and the limits and retentions you choose. Request a quote or call (916) 967-7715, and a licensed agent will review your operation. The Cannabis Coverage Company has written cannabis insurance since 2009, is part of Lions & Coventry and is licensed in all 50 states, so we can quote licensed operators nationwide.
Why cannabis businesses work with The Cannabis Coverage Company
- Writing cannabis insurance since 2009
- Licensed in all 50 states (CA Lic. #0G22084)
- Part of Lions & Coventry Insurance Services
- One agency for liability, property, auto, workers’ comp, cargo and bonds
We work with cannabis businesses nationwide from our office at 7816 Uplands Way, Ste C, Citrus Heights, CA. Request a quote or call (916) 967-7715.