The National Underwriter Company, ALM business released the fourth course of the six-course Cannabis Insurance Coverage Specialist designation (CICS), Real Estate and Cannabis Insurance.
“State regulations around cannabis real estate can be tricky. With this course, we wanted to address cannabis-related real estate insurance issues and liabilities,” Notes Molly Miller, ALM’s chief content officer. “This course is great for anyone looking to purchase or insure real estate for a cannabis-related business.”
Real Estate and Cannabis Insurance touches on unique issues specifically related to cannabis and real estate values, as well as the myriad state and local regulations limiting where cannabis businesses can be located – or not located. This course will examine the different types of cannabis-related real property properties, such as dispensaries or grow operations. This course also examines real estate insurance for cannabis businesses and specific liabilities related to cannabis-related properties. The course concludes with an overview of commercial general liability (CGL), including a sample policy.
“When I was asked to write the real estate module for the CICS designation, I was very excited,” says subject matter expert Danielle Hernandez. “I’ve been teaching classes to agents around the country for the past year about the basics of cannabis insurance. I’ve also produced articles on product liability, and I co-host a monthly Clubhouse called ‘Legal Limits’ for cannabis-related businesses. A comprehensive course was required to help both the insurance agents and the cannabis industry understand the complex nature insuring cannabis entities. As it stands today, the insurance market is not one-size fits all. To help cannabis-related businesses avoid expensive insurance declinations, the exclusionary language contained in each policy form should be understood. As the cannabis industry expands, it’s our responsibility to provide meaningful help for the clients we serve.”
The legalization of marijuana is growing across the globe. The United StatesThere are more organizations that have connections to cannabis-related companies, which require unique insurance and risk management. The forward-thinking Cannabis Insurance Coverage Specialist (CICS) designation is being developed by ALM’s subject matter experts and thought leaders in conjunction with multiple insurance, legal and cannabis industry authorities. The coursework is hot off the presses, and it’s regularly updated to reflect the ever-evolving cannabis industry.
Along with Cannabis Insurance 101, Managing the Risks of Cannabis-Related Businesses, and Handling Cannabis Insurance Claims, Real Estate and Cannabis Insurance is the next step toward the Cannabis Insurance Coverage Specialist (CICS) designation, designed to help anyone understand the key issues, risks and business needs to be successful in operating and advising a cannabis-related business.