The backbone of the cannabis industry is its workers. There are a wide variety of hands-on jobs jobs in the cannabis industry and often times employees work long hours of strenuous physical labor and repetitive work. Whether you own a dispensary or operate a grow facility or anything in between, your workers need to be covered in case of an accident or illness. If an employee is injured or gets sick from a work-related cause, a cannabis business owner could be financially responsible for the claim.

 

Furthermore, the success of your business is dependent on being able to continue operations as normal, and a worker injury or illness could seriously jeopardize that success unless you have the insurance coverage you need. No matter what state your business is located and operates in, each state requires companies that have at least one employee to have Workers’ Compensation Insurance. These requirements vary by state, industry, size of the company, and structure of the business. Companies that fail to carry and maintain their workers’ compensation insurance can face severe fines, lawsuits, and possibly criminal charges. 

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What Does Workers' Compensation Cover? 

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The basic components of Workers’ Compensation Insurance are two-fold: coverage for medical costs and coverage for liability connected to the employer. First and foremost, the injured or ill employee needs to be brought back to how they were prior to the accident. Workers’ Compensation covers the medical bill payments (generally, with no limit) as well as lost time if that can be a necessary consideration (limited to the resident state’s law).

 

The second component of any Workers’ Compensation Insurance coverage is liability connected to you as the employer and the company’s contribution to the employees' injuries or illness. The liability limit depends on the specific mandates of the state in which your company resides but can also be increased, if necessary, with an Excess Policy.

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S2S Insurance Specialists insures the most difficult risks facing your company.  We have the top carriers for Workers’ Compensation Insurance for the cannabis industry, and we will customize a policy that meets your operational needs and budget. To learn more about how we can protect you and your business, schedule a 15-minute consultation.