Marijuana advocates have been championing the benefits of cannabis for decades. As cannabis related products become more mainstream, greater attention is being paid to the effects these products have on people. Prior to legalization if a person smoked a bad strain of weed, they would find a new dealer or perhaps stop smoking altogether. There was little, if any, recourse if the product purchased on the street had unwanted effects. Now that states have taken the initiative to legalize marijuana in various formats across the country, new remedies have been made available to those harmed by the products they now purchase legally.
Product Liability Insurance could be the difference between saving your cannabis related business or having to close your doors. As a business owner, you can be sued for any damage resulting from products that cause harm to others, this includes false advertising, mislabeled or defective products. No matter where you are in the supply chain, your business could be held liable. In the event your company is sued by someone claiming harm, Product Liability Insurance pays for your damages and legal expenses, and will also pay for medical fees of those who were harmed.
Summary
The financial impact of a cannabis product liability suit reaches beyond damages and medical bills. This type of scenario can lead to a product recall, product inventory may have to be removed from shelves, and all of this comes at the expense of the cannabis business owner. While every business owner works to avoid these situations, they do occur and they can be very costly. Many, if not all, of these expenses can be covered by Product Liability Insurance. To learn more about how we can protect you and your business from product liability claims, contact Eric Rahn at eric@s2sinsurance.com or schedule a free 15-minute consultation by clicking here.