Product Liability and Withdrawal Coverage

cannabis product liability insurance

Cannabis Product Liability Insurance

Cannabis Product Liability Insurance provides coverage in the event that you are found liable due to a defective product.

Do you need cannabis product liability insurance?

It’s important for you to know that it has become increasingly common for litigation to go after every operation that had involvement of the compromised product, tracing back from the point of sale. In the event that a consumer becomes sick, is involved in an accident, commits a crime, experiences “side effects,” or other mishap related to the product you could be held liable regardless of where your operation falls within the supply chain.  Due to heightened media attention, varying laws and the remaining conflict between federal and state regulation, cannabis businesses have become easy targets for lawsuits.

If you were to face a product liability claim, one of the best actions you can take is to withdraw your product.  This is a radical step that a company can take to respond favorably to the notice of a defective, or potentially contaminated product.  The process of withdrawing a product is much more expensive and stressful than most realize and by having withdrawal coverage in place, you can position yourself to proactively prevent greater losses. Contact The Cannabis Coverage Company today to speak with one of our cannabis insurance specialists and to learn more about Cannabis Product Liability in regards to the cannabis insurance industry.