The National Underwriter Company, an ALM business, is launching the Cannabis Insurance Coverage Specialist (CICS) program—one of the first certifications for insurance agents and brokers, risk managers, and other professionals who advise cannabis-related businesses.
The program was created by ALM’s experts and thought leaders in conjunction with insurance, legal, and cannabis industry experts.
Molly Miller, ALM’s chief content officer, said the “courses will focus on providing an in-depth look at the challenges and opportunities businesses face daily.”
“We wanted to create a forward-thinking certification that would benefit professionals serving the cannabis industry, as well as growers, suppliers, manufacturers, dispensaries and others who are a critical aspect of this still evolving industry.”—Miller in a press release
The first course in the program, Cannabis Insurance 101, will include such topics as risk management, real estate issues, product liability and claims, cannabis issues for business advisors—including financial services professionals and attorneys—and medical and health issues surrounding the use of cannabis, including workers’ compensation and employment law concerns.
The Cannabis Insurance 101 program has been approved for continuing education credits in Arizona, Illinois, Ohio, and Washington state, and is pending in California, Colorado, Nevada, New York, and Oregon.
Kieran J. O’Rourke, vice president and director of underwriting for Cannasure Insurance Services, a subsidiary of One80 Intermediaries, said in a statement that the cannabis industry faces “many of the same daily issues as other enterprises, but with some unique challenges” due to cannabis federal Schedule I status.
“Educating the insurance industry about these unique risks allows carriers to better serve these expanding businesses,” he said.
Author: TG Branfalt