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Coverage Offered for Commercial Marijuana Industry

A recently formed insurance agency is offering the commercial marijuana industry general liability and related insurance coverage on a surplus lines basis through several Lloyd’s of London syndicates.

Chicago-based Wellness Medical Protection Group, a unit of publicly traded Madison Heights, Michigan, firm Creative Edge Nutrition Inc., is offering up to $2 million per occurrence and $2 million aggregate coverage to segments of the commercial marijuana industry, Wellness Medical Protection Group’s President Edward Kuhn said Friday.

He said the policies are being written for three segments of the commercial marijuana industry: growers, manufacturers and processors; dispensaries; and support businesses, such as laboratories.

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