Anonymous asked Doug Banfelder, 1/17/2017 12:29:38 AM
  • Unclassified

Are there any relevant insurance policies to assist a cannabis company if their seed-to-sale POS system fails them?

1 Answer, 0 Replies
1/25/2017 11:09:33 AM,
Doug Banfelder replied:
Sorry for the belated response, traveling last week.

If your policy has Business Income (aka Loss of Income or Business Interruption) you may have coverage.  Please note that there is a waiting period (24-72 hours is typical) for which you would not be compensated.  Depending upon the nature of the event, Equipment Breakdown coverage may also come into play. 

On a related note, Cyber Liability policies can protect an insured from the costs associated with data breaches.

Hope this helps.