Medicinal Marijuana Dispensary Coverage from Alexander J. Wayne & Associates, Inc.
Alexander J. Wayne & Associates, Inc. is proud to offer a specialized insurance solution tailored for medical marijuana dispensaries operating in today’s evolving legal and regulatory environment. As an experienced Excess & Surplus Lines Broker, we provide agents and brokers with access to markets willing to write coverage for this once hard-to-place class of business. Our Medicinal Marijuana Dispensary Coverage program is designed to help your clients manage the unique risks associated with this industry.
Ideal Accounts and Appetite
This program is built for licensed medicinal marijuana dispensaries operating in compliance with their state laws. Ideal accounts include storefront dispensaries with physical locations that maintain proper security, inventory controls, and standard operating procedures. We can consider both new ventures and established operations, provided they meet underwriting criteria.
Examples of good-fit risks include:
- A retail dispensary in Oregon with onsite storage of cannabis products.
- A multi-location operation in Michigan seeking combined liability and property protection.
Coverage Highlights and Advantages
Our program delivers comprehensive protection that addresses the exposures faced by dispensary owners. Available coverages include:
- General Liability: Limits up to $5 million
- Property Protection: Covers buildings, contents, and improvements
- Medicine Coverage: Includes protection for cannabis inventory
- Business Interruption: Helps recover lost income due to covered events
- Product Liability: Protects against claims related to product use
This package helps ensure your insureds can continue operations and protect their investments in the event of a loss.
Underwriting Notes and Minimum Premiums
All submissions are subject to underwriting review. Minimum premiums vary based on location, risk characteristics, and selected coverages. We encourage agents to include complete applications and operational details to expedite the quoting process. Applications are available upon request.
Territories and Availability
This program is available on a non-admitted basis in the following states:
- 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
Why Work With Alexander J. Wayne & Associates?
Alexander J. Wayne & Associates was one of the first brokers to recognize the growing need for insurance solutions in the cannabis sector. We leverage our experience in hard-to-place and specialty professional liability risks to bring competitive, thoughtful programs to market. Our team understands the regulatory challenges and works closely with agents to deliver tailored solutions for this complex industry.
In addition to dispensary coverage, we can assist with a wide range of standard and hard-to-place professional liability placements. Contact us today to request an application or to discuss how we can support your clients in the cannabis space.