NFP Offers Insurance Protection for Cannabis Businesses

Like businesses in all industries, cannabis operators face a gamut of risks that could upend their finances and threaten their viability. Protecting against these risks is vital, but many insurance companies decline to do business with cannabis operators. To fill this void, many marijuana businesses in California and around the country turn to property and casualty broker NFP.

Scott Foster, senior vice president and leader of the healthcare and life sciences practice at NFP, notes that cannabis businesses have insurance needs unique to the industry.

“Cannabis businesses face risks that traditional insurance often excludes or underwrites differently. NFP’s cannabis-specific coverage fills those gaps,” Foster tells IgniteIt in a written interview. “Our approach blends deep industry expertise, specialty carrier access, and proactive risk management to help operators stay compliant and resilient.”

NFP recognized the need for insurance coverage for cannabis businesses when the regulated industry was in its infancy, with the company protecting the assets of California cannabis businesses since 2015.

“We’ve been in the trenches with California’s cannabis pioneers and continue to expand our offerings through partnerships with leading specialty carriers like QuadScore,” says Foster.

Today, the company offers insurance coverage to cannabis businesses in regulated markets across the country and beyond.

“NFP’s cannabis programs span North America, supporting both single-state and multi-state operators—including vertically integrated businesses,” Foster explains. “We also offer tailored coverage for hemp and CBD enterprises, especially post-2018 Farm Bill.”

Cannabis businesses of all sizes and covering all aspects of the industry have turned to NFP for insurance coverage. As the industry continues to grow, the company has expanded its offerings into new markets as they emerge.

“NFP delivers comprehensive insurance solutions tailored to every stage of the cannabis lifecycle—from seed to sale,” says Foster. “We support cultivators, processors, manufacturers, dispensaries, labs, delivery services, and property owners in the cannabis space. As legalization grows and the industry matures, insurance becomes a strategic asset. NFP’s national footprint and cannabis-specialized team make us a trusted ally for operators navigating this dynamic market.”

NFP’s offerings for cannabis businesses include coverage for general and excess liability, property and equipment breakdowns, product recalls and liability, crop insurance, pollution liability, and cyber insurance. Other options include insurance for company directors and officers, business interruption and income loss, cargo and stock throughput, trade credit and surety, and commercial vehicle coverage.

To learn more about insurance coverage for cannabis businesses from NFP, contact Scott Foster.