Los Angeles, California (webnewswire) July 30, 2019 – MFE Insurance, a cannabis insurance broker, recently released a blog listing the benefits of acquiring product liability insurance for marijuana dispensaries. Product liability insurance is an important part of protecting your business and finances in the event of product contamination or other issues.
Despite your best efforts, a customer may have an unpleasant experience when using your products due to poor manufacturing, distribution, and even marketing methods. Product liability insurance can help you handle the aftermath of these incidents. With this type of insurance, you can have access to the money you need to deal with compensation cases brought against your products for damage, loss, or injury. This generally includes bodily injury, property damage, and any funds a claimant might need to pay for associated medical bills, lost wages, repairs, restitution, and legal fees. Without product liability insurance, you may find yourself paying hefty fees as a result of legal action taken against your business.
There are several events in which product liability insurance can benefit your business. The facility in which your products are grown or made might accidentally cross-contaminate the product with unwanted materials, causing adverse effects when it is used. If you sell pipes and other equipment, damage during transportation and distribution could make those products dangerous to use and cause injury. Customers may even be able to make a product liability claim if they have an unexpected allergic reaction. With the right insurance policy, you’ll have the money you need to resolve these cases without damaging your business’s finances. You can also support your staff if they are involved in a similar case related to their work for your dispensary.
Speak to the cannabis insurance brokers at MFE Insurance for more information about product liability insurance and to acquire your own policy. The cannabis industry is relatively new, and MFE’s experienced brokers can help you navigate it while protecting your investment and allowing you to operate with more peace of mind. MFE specializes in providing custom insurance packages for restaurants, nightclubs, bars, dispensaries, productions, and other entities within the entertainment and nightlife industries. To discuss your dispensary’s insurance needs, contact the agency at 213-266-7990 or online at https://www.mfeinsurance.com/.