National Cannabis Risk Management Association Endorses Trichome™ Insurance Products For The Cannabis Industry
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PITTSBURGH, April 20, 2021 /PRNewswire/ The National Cannabis Risk Management Association (NCRMA) is endorsing a suite of insurance products designed to serve the needs of its members and the overall cannabis industry.
The products will be available through Trichome™, an insurance brand which is part of the association captive owned by the NCRMA.
This entity has been established to initially offer property, general premises liability and product liability coverage to cannabis dispensaries and associated grow facilities. These products are available immediately, and additional lines of coverage and progression up the vertical are planned for later this year. The launch of Trichome™ is a direct response to our members expressed need for fairly priced and risk management-based insurance coverage to a rapidl
Insuring Cannabis Summit: Talking to Clients About Risk Starts with Education
Editor’s note: This is part of a series of articles based on panels and presentations during on Nov. 19.
Believe it or not, talking to cannabis businesses about risk isn’t much different than talking to owners of other businesses about the topic.
However, there’s a bit more to it than that, especially in a highly regulated industry in which many businesses are focused on just dotting the “I”s and crossing the “t”s and getting on with earning a dime.
“What the challenge is, is that most people come into the industry hearing they have a requirement and it becomes a burden to them versus actually this is an advantage or a value to the company,” said Jesse Parenti, director of programs for PCF Insurance Services. “So, it’s really an economic conversation and it’s having them understand from a 10,000 foot view, what they need to do to start. And then from there, build up what they