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Brenden Morris Insurance Agency, Inc. Blog

Cannabis- Insurance Requirements

1/22/2019

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Photo by Wesley Gibbs on Unsplash
We have multiple carriers that we work with to find the right coverage with competitive pricing to meet all of the insurance requirements listed below.

Insurance Requirements

(a) An applicant for a distributor license shall provide the Bureau with a certificate of insurance that shows the types of insurance coverage and minimum amounts that have been secured as required by this section, and documentation establishing compliance with subsection (d) of this section.

(b) A distributor licensee shall at all times carry and maintain commercial general liability insurance in the aggregate in an amount no less than $2,000,000 and in an amount no less than $1,000,000 for each loss.

(c) A distributor licensee shall maintain the insurance required in subsection (b) from an insurance company that is:

(1) A non-admitted insurer, that meets the requirements of Insurance Code section 1765.1 or 1765.2, and the insurance is placed pursuant to Insurance Code section 1763 and through a surplus line broker licensed under Insurance Code section 1765; or

(2) An insurer qualified to do business in California by the Secretary of State and authorized by the Insurance Commissioner to write the liability and property classes of insurance as defined by Insurance Code sections 102, 103, 107, 114, 108, and 120; or

(3) A registered risk retention group compliant with the California Risk Retention Act of 1991. (See California Insurance Code sections 125-140.)

(d) Admitted insurers and risk retention groups must show proof of capitalization in the amount of at least $10,000,000.

(e) A distributor licensee shall notify the Bureau in writing within 10 calendar days of a lapse in insurance.

Authority: Section 26013, Business and Professions Code. Reference: Section 26070, Business and Professions Code.
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Brenden Morris Insurance Agency, Inc.​
20301 Ventura Blvd.
Suite 315
Woodland Hills, CA 91364
(818) 835-9660
Click Here to Email Us

Location

Website by InsuranceSplash
  • Home
  • Quotes
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
      • Business Auto Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Mobile Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Life Quotes >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
      • Final Expense Insurance Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Classic Car Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Health Quotes >
      • Health Insurance Quote
      • Critical Illness Insurance Quote
      • Dental Insurance Quote
      • Long Term Care Insurance Quote
      • Vision Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
      • Wedding Insurance Quote
  • Service
    • Utility Connect
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Professional Liability Insurance
      • Insurance Bonds
      • Workers Compensation
      • Business Auto Insurance
    • Property >
      • Home Insurance
      • ​Mobile Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
      • Final Expense Insurance
      • Umbrella Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Health >
      • Health Insurance
      • Critical Illness Insurance
      • Dental Insurance
      • Long Term Care Insurance
      • Vision Insurance
    • Other >
      • Event Insurance
      • Wedding Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Blog
    • News
  • Contact