ALM Announces New Cannabis Certification for Insurers

NEW YORK – The National Underwriter Company, an ALM business, is launching one of the first certifications for insurance agents and brokers, risk managers and other professionals who advise cannabis-related businesses: Cannabis Insurance Coverage Specialist (CICS).

Created with the learning needs of insurance producers, agents, risk managers, and those in various areas of the cannabis business in mind, CICS is the most complete professional learning program available for industry professionals seeking to master the complex and ever-evolving subject of cannabis insurance coverage. The program was created by ALM’s subject matter experts and thought leaders in conjunction with multiple insurance, legal and cannabis industry experts.

“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,” shares Molly Miller, ALM’s chief content officer. “These courses will focus on providing an in-depth look at the challenges and opportunities businesses face daily.”

Cannabis Insurance 101, the first course in the certification program, features detailed content enhanced with real-life case study exercises and is the foundation for understanding the myriad issues related to running cannabis-touching businesses. In addition to the introductory course, the curriculum will include lessons that address 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.

“Businesses in the cannabis industry face many of the same daily issues as other enterprises, but with some unique challenges due to cannabis still considered a Schedule 1 substance,” explains Kieran J. O’Rourke, vice president and director of underwriting for Cannasure Insurance Services, a subsidiary of One80 Intermediaries. “Educating the insurance industry about these unique risks allows carriers to better serve these expanding businesses.”

Cannabis Insurance 101 and the certification program are approved for continuing education credits in the following states:

• Arizona
• Illinois
• Ohio
• Washington State

Approval is pending for the following states, and more will be added as appropriate:

• California
• Colorado
• Nevada
• New York
• Oregon

Marijuana legalization is increasing across the United States, and more and more organizations have connections to cannabis-related businesses, which have unique insurance and risk management needs. Cannabis Insurance 101 and the Cannabis Insurance Coverage Specialist (CICS) certification can help anyone understand the key issues, risks and business needs to be successful in operating and advising a cannabis-related business.

(This information is primarily sourced from ALM.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).