Medicinal Marijuana Dispensary Coverage from Alexander J. Wayne & Associates, Inc.
Alexander J. Wayne & Associates, Inc. offers a focused insurance solution for licensed medical marijuana dispensaries. As an experienced Excess & Surplus Lines Broker, we provide agents and brokers access to markets that will write this traditionally hard-to-place class. Our Medicinal Marijuana Dispensary Coverage program is structured to help your clients manage the operational, property, and product-related risks unique to the cannabis retail sector.
Overview of the Program
This program targets storefront medicinal dispensaries that operate in full compliance with state licensing and regulatory requirements. Coverage is distributed through non-admitted markets, allowing greater flexibility to address specialty exposures and evolving regulatory needs. We underwrite to current industry practices and expect applicants to maintain documented security, inventory controls, and standard operating procedures.
Ideal Accounts and Appetite
The program is designed for licensed, retail-facing dispensaries — both single-location shops and multi-location operations. Preferred accounts maintain formal policies for inventory tracking, controlled access, and employee training. We will consider both new ventures and established operators when underwriting criteria are met.
Typical good-fit examples:
- A single storefront in Oregon with secure onsite storage and point-of-sale controls.
- A multi-location dispensary in Michigan seeking a combined property and liability placement under one program.
Coverage Highlights and Advantages
The program provides a package of coverages tailored to dispensary exposures, including:
- General Liability: Limits available up to $5 million to respond to third-party injury and premises claims.
- Property Protection: Coverage for buildings, contents, and tenant improvements where applicable.
- Medicine (Inventory) Coverage: Protection for cannabis inventory and related products stored on the premises.
- Business Interruption: Income recovery for covered interruptions to operations.
- Product Liability: Defense and indemnity for claims arising from use of products sold by the dispensary.
This combination helps insureds protect physical assets, inventory value, continuity of operations, and product-related liabilities.
Underwriting Notes and Minimum Premiums
All submissions undergo underwriting review. To quote quickly, include a complete application, current licensing documentation, loss history, security protocols, and inventory procedures. Minimum premiums vary by state, risk profile, and selected coverages; please provide detailed account information so we can determine applicable minimums.
Territories and Availability
The program is available on a non-admitted basis in the following states and the District of Columbia:
- Arizona, California, Colorado, Connecticut, Delaware, District of Columbia (DC)
- Illinois, Maine, Massachusetts, Michigan, Montana, Nevada
- New Hampshire, New Jersey, New Mexico, Oregon, Rhode Island, Vermont, Washington
Because placements are non-admitted, availability and terms may vary by state and by carrier appetite at the time of submission.
Why Work With Alexander J. Wayne & Associates?
Alexander J. Wayne & Associates was an early entrant into the cannabis insurance market and maintains experience placing hard-to-place and specialty risks. We combine market access with underwriting knowledge of regulatory and operational challenges facing dispensaries. Our team works with agents to structure competitive, tailored submissions and to navigate the documentation and compliance expectations of non-admitted markets.
If you have a dispensary client that needs a tailored insurance solution, contact us to request an application or to discuss a potential submission. Complete applications with operational details will help expedite quoting.