Product Liability Insurance protects you and your company against liabilities causing injury or damage from the use of your product. These claims can be brought against you and your company by an individual or a group of individuals that may have experienced similar injuries. Because the cannabis industry is a relatively new industry, this also means there are many consumers in this industry who are new to the product being served. Having said that, the potential for adverse effects and negative reactions to the product are higher than any other industry on the market. This leaves cannabis cultivators and sellers susceptible to claims that their product caused the consumer harm. This should be of great concern to companies who manufacture and/or sell cannabis, as loss of filed claims could result in the liquidation of their business and/or loss of their cannabis growing and selling licenses. The Product Liability Insurance policy at MFE Insurance provides your company the protection it needs.

How Does Product Liability Insurance Apply To My Business?

As a grower, distributor, or dispensary, you automatically carry a product liability exposure as a result of selling an actual product. Let’s say someone claims they inhaled your product and it causes an injury resulting in bodily injury, your company could be found responsible. Studies show that claims have been brought against growers as a result of pesticides being present in their product, be sure to protect your company and its assets with a Product Liability Insurance policy with Insurance Services For Cannabis Coverage.