The California Department of Insurance (“CDI”) has approved a new workers' compensation insurance program for California's cannabis industry created by Atlas General Insurance Services.
“Cannabis businesses should have insurance coverage available to them just like any other California business,” said the CDI's commissioner, Dave Jones. “As insurance commissioner, my mission is insurance protection for all Californians, which includes insurance for California's legalized cannabis businesses and its workers. This new program from Atlas is a crucial step in the right direction for this evolving industry. I encourage more insurance companies to offer cannabis business insurance products with the department to meet the needs of this emerging market.”
This program can accommodate workers' compensation risks involved in all aspects of the cannabis industry – including growers, extractors, analytical labs, medicine manufacturers, food and beverage products manufacturing, packaging, warehousing and distribution, transportation, and dispensaries. Atlas provides all of the distribution and underwriting as well as the carrier backroom functions on behalf of Accredited Surety & Casualty.
“Atlas has been studying the cannabis industry well before it became legalized in California,” said Bill Trzos, the chief executive officer of Atlas General Insurance Services. “Through our research we recognized the opportunity to be proactive in entering the cannabis market and are excited to be one of a few work comp platforms in the state.”
Steven A. Meyerowitz
Steven A. Meyerowitz, a Harvard Law School graduate, is the founder and president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. He may be contacted at [email protected].