GreenWrap Insurance Solutions

The restrictions on cannabis at the state level in the U.S. are lifting as states continue to authorize marijuana for medical and recreational purposes. As the push for federal legalization grows across the nation, investment in the cannabis industry is expanding. In the wake of these developments, cannabis stakeholders are seeking a wide-ranging set of insurance policies to protect them against evolving risks.

Where standard insurance companies hesitate to step into an ever-changing landscape riddled with complex laws and regulations, GreenWrap Insurance Solutions comes to the rescue. As an insurance specialist in cannabis, GreenWrap offers personalized coverage options for businesses invested in hemp and marijuana, even if they are not involved in the production and sale of cannabis. GreenWrap’s insurance products are designed to protect clients across every touch point in the cannabis industry, from cultivators and dispensaries to distributors and ancillary businesses, such as packaging or logistics.

GreenWrap’s professionals have extensive industry knowledge and a deep understanding of the nuanced complexities clients face, including data protection. Complete insurance protection for physical as well as digital interests is provided to companies handling cannabis products from seed to sale through collaboration with experienced insurance carriers. The insurance agency offers employee benefits, cyber/data breach liability, workers’ compensation, general liability, property, crop insurance, directors and officers (D&O) insurance, and more.

“We are a one-stop shop for all cannabis-industry insurance needs, supported by AmWINS, one of the largest wholesale insurance companies in the world. Our packages are custom-tailored to the client’s unique level of risk, the interests they’d like to insure, the applicable state regulations, and the national mandates,” says Emily Leander, founding member and chief executive officer at GreenWrap Insurance Solutions.

In the cultivation of hemp and marijuana plants, seedmen play an essential role as they are responsible for cultivating and selling cannabis products. GreenWrap Insurance Solutions provides personalized packages to protect seedmen against the risks they face. It also covers employer’s liability coverage and workers’ compensation for businesses in different sectors like cultivation, dispensaries, processing, manufacturing, transport, and e-commerce.

Apart from insuring the human aspect of companies, GreenWrap focuses on increasing security protection of companies in a time when all information is being digitized. Cyber/ data breach insurance, offered by GreenWrap, protects businesses within the cannabis vertical, and outside of it, should they suffer a ransomware attack, privacy breach, data loss, extortion, or other peril. Policy features that assist against losses include credit monitoring assistance, breach notifications, website evaluations, and crisis management. The agency analyzes its clients’ risk levels and the interests they want to insure, resulting in a wholly customized cyber/data breach policy. GreenWrap’s cyber training through third-party providers further ensures that clients are always one step ahead of the cyber risks.

For instance, an e-commerce site suffered a ransomware attack that stole information on its website, causing them to be down for five days. They were insured under a cyber insurance policy through GreenWrap Insurance Solutions, which covered their business income loss during that timeframe and helped them manage the crisis on their end. The company closed its business for the time being so no one else could steal their data, and GreenWrap Insurance Solutions sent a claims adjuster to triage the situation and help them rebuild the site safely. The company ended up with a claim of $100,000, paid out by the insurance policy, which enabled them to get back up and running.

These services are possible due to their team’s impressive industry experience in agriculture, construction, medical and life sciences, and other specialties relevant to cannabis. Assisted by international insurance giants like AmWINS, GreenWrap Insurance Solutions is trusted by clients in all 50 states and across North America, as well as from the Caribbean and some areas of Latin America.