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Admitted Insurance Carrier Now Available for California Cannabis Businesses

Admitted Insurance Carrier Now Available for California Cannabis Businesses

Admitted Insurance Carrier Now Available for California Cannabis Businesses

By: Cindy Ponce

November 9, 2017

El Sobrante, CA – For the first time, California cannabis business owners now have an admitted carrier to choose from when insuring their businesses. Golden Bear Insurance Company (AM Best Rating: A-, Excellent) was approved last week by the California Department of Insurance to begin insuring cannabis businesses throughout the state.

Golden Bear Insurance Company enters the marketplace as large surplus lines carriers such as Lloyds of London have stopped writing coverage for the cannabis industry. The insurance carrier is now available to insure many types of cannabis enterprises including:

  • Dispensaries/Collectives/Cooperatives
  • Grow Facilities
  • Manufacturers of: Edibles, Creams, Tinctures and Commercial Kitchens
  • Distributors

Coverage for businesses will include property, general liability (including assault & battery), products liability, special events, and crime. Cannabis business owners seeking coverage should contact Hayes Insurance Agency to obtain information, applications and quotes.

“We are excited to finally be able to offer an admitted carrier to our California cannabis portfolio of clients,” said Galen Hayes, president of Hayes Insurance Agency.

Hayes Insurance has been writing insurance for the cannabis industry since 1996. They offer all lines of coverage for recreational and medical marijuana operations in those states where it is legal. Hayes has access to all markets that offer cannabis coverage nationwide. Coverage is available for all types of businesses including delivery services, testing laboratories, doctors and more.

Contact

To learn more about insurance for the cannabis industry, please contact

Galen Hayes (ghayes@hayesbrokers.com) or

Cindy Ponce (chodge@hayesbrokers.com)

3550 San Pablo Dam Rd., #C, El Sobrante, CA 94803

Office: (510) 222-8643

Fax: (510) 222-6162

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