Cannabis Insurance for Businesses
FCA is Canada’s Commercial Insurance Expert Since 1919
FCA has been providing Canadian companies with commercial insurance since 1919. We have set the industry standard for turnaround time for both new and existing clients. We pride ourselves in ensuring our clients are receiving the best suite of coverages at a fair price.
FCA specializes in offering the following suite of coverages for Cannabis producers:
- Stock, Building and Equipment Insurance
- Commercial General Liability Insurance
- Directors and Officers Insurance
- Product Recall Insurance
- Builders Risk Insurance
- Cyber Liability Insurance
- Errors and Omissions Insurance
- L302 Cannabis Excise Bonds
In order for FCA to provide Insurance to your Cannabis operation, there are 2 main items we require:
- Copy of your Health Canada License
- Completed application, which can be found here (application uploaded to content folder)
The main factors that influence the price of cannabis coverage include:
- Revenue – this helps to assess the overall exposure and size of the operation
- Value of insured assets – also known as total insured value (TIV) is the maximum total property loss
- Experience – this is used this to gauge the level of expertise the management and ownership team have in running the operation effectively
- Past insurance claims experience – used to understand the likelihood of a claim based on the past experience.
In most cases, policies in the cannabis Industry start with a minimum premium of $2,000 and quoted based on the details provided in the four categories above.
Our organization has been working with FCA Insurance for over 2 years. The team, led by Jamie Collum and Warren Griffiths, exceeds expectation in service, responsiveness and knowledge. Always going above and beyond to deliver the right solution in a seamless and effortless manner. We highly recommend FCA for all insurance needs.
FCA covers us for all our business requirements, from equipment to liability, property, builds and everything in-between. Errol Williams is so patient and helpful; I am always confident that we are getting the best possible coverage at a competitive rate. Always the best service!
Chris Dardarian and FCA were great to work with! They provided timely and comprehensive advice and a product that suited our needs. Our situation was complicated by COVID but the transaction was handled efficiently.