ALM Launches Cannabis Risk Management Course For Insurers

Understanding the risks inherent in each phase of the cannabis industry allows companies to proactively mitigate dangers before they arise or minimize their impact. (Photo: J. Albert Diaz / ALM)

The latest course for ALM’s Cannabis Insurance Coverage Specialist (CICS) designation, Cannabis Business Risk Management, launches this week. Although created primarily for insurance professionals, the course provides valuable insight to entities operating in all aspects of the cannabis industry, from cultivation operations to manufacturers and dispensaries.

The course examines the risks arising from federal laws and regulations; cultivation and processing risks such as contamination, property damage, theft and employee injuries; manufacturing risks; those related to the sale of products and legal risks.

Jodi Green, an attorney with the cannabis recovery and insurance teams at Miller Nash, is the course architect and subject matter expert. “I am delighted to have the opportunity to work with ALM / National Underwriter on this project because education on insurance and risk management is so important to the cannabis industry, which faces risks. evolving legal and compliance challenges, ”she told in a written statement. “I hope this course will help bridge the knowledge gap between the insurance and cannabis sectors to open up the availability of insurance to the cannabis industry and ensure that cannabis businesses operate in a safe and secure manner. effective to avoid unnecessary losses. “

The course also discusses insurance coverage and possible exclusions for the products; criminal acts, illegal or intentional; cannabis and controlled substance exclusions; health risk exclusions; those related to vaping products and several other exclusions that businesses should be aware of to ensure their policies cover losses as intended.

Cannabis Business Risk Management and CICS Designation Program have been submitted for continuing education credits in the states of Arizona, Illinois, Ohio, Washington State, California, Colorado, Nevada, New York and Oregon, and other states will be added as appropriate. The introductory price for the course is $ 199 and those interested can visit for more information.

Future CICS designation courses will address real estate, financial, workers’ claims and compensation issues related to cannabis-related businesses.



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