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Medical Marijuana Dispensaries May Be at Risk From Lawsuits
One of the biggest questions asked by anyone who has ever considered investing in marijuana is how much the cost of dispensary insurance will set in. While it's normal to worry about the costs of doing business, it's also normal to be concerned about the costs of not doing business. A worry that shouldn't be ignored is the possible legal ramifications that may result from having cannabis sold and legalized in one's state. In California in particular, marijuana is seen as a "soft" drug, which means that it's not strictly prohibited by law like many other drugs are. That does mean that it can be more susceptible to the whims of the government when it comes to regulation, but in the end, it offers potential financial benefits to all involved.
As previously mentioned, medical marijuana dispensaries are seen as one of the "hottest" business ventures on the rise in the country. In many jurisdictions, including California, it is required that dispensary businesses pay into the program. For them, this is seen as a way to ensure that they are providing legitimate services, and it can help to keep taxes from being collected. Unfortunately, the cost of doing business at a dispensary can be quite high. While there is a lot of variation in the cost of getting started and maintaining coverage, the final result can end up being a significant expense.
Just as is the case with other types of businesses, the cost of coverage will depend largely on the type of policy that you get. One type of policy, called a Professional Liability Policy, or PLP, is designed to protect medical marijuana dispensary operators from any claims of malpractice that may arise from any negligence on their part. Under such a policy, if a customer feels that he was hurt due to the actions of a dispensary employee or contractor, the patient may be able to seek damages from the business. If the claim is successful, the insurance provider of the dispensary may be ordered to compensate the patient for past and future medical expenses, lost time at work, and other related benefits.
more info for medical clinics and marijuana dispensaries is not the only type of PLP to consider. In Colorado, as in many states, there is a category of "designer clinics" that operate without the full endorsement of a licensed physician. Under this classification, establishments can open to the general public, but without having the permission of a licensed physician. Because the regulations governing these "designer clinics" are less tight than those for licensed facilities, a great deal of the risk associated with running such an establishment comes from unexpected accidents, which are often caused by the actions of unlicensed personnel. average car insurance cost per month north carolina can be very serious for the patients who visit such facilities, and the costs can quickly add up for both the customers and the employees of a marijuana dispensary.
Because these unregulated facilities are less regulated than licensed facilities, the employees of a marijuana dispensary may also be in a better position to take advantage of Designation of Risk (DR) options. For car insurance quotes in monument, co features , some insurance companies will include coverage for occupational illness, injury or death occurring at the work site. Under the circumstances described above, an employee's injury or illness at work could lead to a case against the business, allowing it to be held responsible for injuries that occur on their property. In addition, workers' compensation is often an appropriate option under the circumstances described above. In this case, the insurer could be held liable for the health and/or disability suffered by any employees who are injured while working at a marijuana dispensary.
Designation of Risk (DR) allows a business to avoid making a claim in the event of unexpected accidents or events on or around its property. This means that when an insured event takes place, the business income or business loss could be covered through the use of appropriate insurance coverage. An example of the type of coverage that may be available to a marijuana dispensary might be: the use of a "botanical cleaning process," "heat disinfection," or "chemical shock." Such clean-ups, when performed in a professional manner, can be expected to minimize the risk of injury or illness to employees.
Similarly, an appropriate security measure can be applied to reduce the likelihood of harm occurring to employees, visitors, or patients while on the premises of a marijuana Dispensary. A quality security service can be applied by the establishment to ensure that marijuana Dispensaries operating within its operation and property do not attract criminals, thereby reducing the likelihood of injury or harm to patrons, staff, or visitors. Additionally, the use of appropriate security personnel can be an effective deterrent to crime. For example, in many states, it is a criminal offense to operate a marijuana Dispensary without having appropriate security personnel on the property. This is typically referred to as "farming marijuana," and may result in substantial fines or charges.
Finally, it should be noted that medical marijuana dispensary insurance does not typically cover employees or visitors who are injured on the premises, or who visit and become ill while they are there. Therefore, it would be unrealistic to expect coverage for the purchase of supplies, the provision of medical care, or the provision of jobs at the marijuana Dispensary. However, as previously stated, a quality commercial insurance policy will include coverage for accidents that occur on the premises, as well as for theft and other property damage. Therefore, medical marijuana Dispensaries may benefit from a consultation with a commercial insurance agent who specializes in medical marijuana laws, as well as an industry leader in marijuana business insurance.
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