The most common cause of loss facing cannabis businesses is theft and the only way to get reimbursed for losses is with Crime Insurance.
Criminals are well aware that the cannabis industry includes many lucrative, cash-intensive businesses, which means you have a target on your back. In fact, the most common cause of loss facing cannabis businesses is theft. Losses from an office burglary to destruction of property to theft of finished product can have a devastating effect on your business. The only way to ensure you get reimbursed from losses caused by certain illegal activities is to have Crime Insurance.
What Does Crime Insurance Cover?
Employee theft of money, securities or property inside the premises.
Non-Employee theft both inside and outside the premises.
Forgery or Alteration, including inadvertently accepting forged checks or counterfeit money or employees altering checks, bank drafts and other financial documents.
Computer and wire transfer fraud.
Robbery of valuables while in transit under the care of a messenger or armored car.
Crime Insurance is designed to protect your business from loss caused by certain illegal activities. If you are the victim of a crime, your insurance company will reimburse you for losses of money, securities or other tangible property that it directly experiences.
Some companies think that just because they don’t have a physical point of sale, they don’t need crime insurance. Others see it as overkill since their business doesn’t handle cash and isn’t transactional in nature. Many business owners are not aware that cannabis crime insurance isn't automatically bundled into their insurance policy, so, when they experience a loss due to criminal activity, they are not covered. S2S Insurance Specialists insures the most difficult risks facing your company. To learn more about how we can protect you and your business, schedule a 15-minute consultation.