I'm opening a dispensary, where do I start?
Start with builders’ risk with premises liability for your construction and renovations to get your shop ready. Note, that many insurers will require all building updates to be done. For example, if the building is older, all plumbing, heating, and ventilation need to be up to code for the insurance companies to provide coverage, and are keener on these updates for cannabis operations.
For the type of operation, there are minimum commercial general liability (CGL) requirements, which as of November 18, 2020, the OCS dropped to a minimum of $5 million.
Stock and equipment need to be inventoried, to ensure it is properly insured for the right value.