Working in the cannabis industry comes with many risks.
Workers compensation insurance for cannabis businesses.
All worker’s compensation policies are unique, so it’s important that you read between the lines – or hire Reliant Agency to do that for you – to ensure you have proper coverage.
In most states- including Illinois- businesses are required to have worker’s compensation insurance. This is the case whether you have 1 employee or 100+. The cannabis industry is no exception. In fact, if you don’t have workers comp, you could face penalties ranging from fines to the forcible shutdown of your business and even jail time.
Needless to say, worker’s compensation is arguably one of the most important types of cannabis insurance coverage.
Why do you need cannabis worker’s compensation insurance?
Working in the cannabis industry comes with many risks such as:
- Equipment malfunction
- Exposure to chemicals, mold and UV
- Carbon dioxide inhalation
- Heat-stress injuries like heat rash and heat stroke
- Flammable liquids
- Allergic reactions to cannabis plants or products
- Poor indoor air quality
Your employees have rights to adequate compensation should any of these risk factors result in injury.
What does worker’s compensation insurance cover?
All worker’s compensation policies are unique, so it’s important that you read between the lines- or hire Reliant Agency to do that for you- to ensure you have proper coverage. In general, worker’s comp insurance should cover medical expenses, missed wages, work injury-related lawsuits and death benefits.
It’s in your best interest as a cannabusiness owner to factor worker’s comp into your dispensary insurance cost and coverage. Cannabusiness ranging from manufacturers to contractors to dispensaries could face business-altering penalties if they do not have cannabis worker’s compensation insurance.
If you would like to know more about cannabis insurance, give us a call today or request a quote.
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