Errors & Omissions Insurance for Cannabis Businesses
What is Errors & Omissions Liability Insurance for Cannabis Businesses?
Errors and Omissions insurance provides coverage for losses caused by an error or omission while performing your professional services. Consultants, attorneys and laboratories are the industries that commonly look for this coverage but if you are responsible for tracking or logging data for your clients this is a coverage you will want to consider.
Common Examples of Errors & Omissions Claims are:
Inaccurate test data leads to product being destroyed.
Contract for a client was improperly drafted, leading to them losing money.
Records or rates for a client are improperly logged, leading to the client losing money.
When your professional work has a safety component to it, such as a lab testing cannabis product, you will want to add bodily injury coverage to your errors and omissions coverage. This is different from General Liability or Product liability because your business did not directly injure anyone. The injuries arose from an error or omission in your professional services.
Get an Errors & Omissions Insurance Quote
For a quote or to learn more about errors and omissions insurance, reach out to us today.