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P R O MOT ION A L F E AT URE

C A N NA B I S I NS U R A NC E S E RV IC E S

Giving Insurance a Better Rap LIKE SO MANY THINGS IN THE EMERGING CANNABIS COMMERCE, THE INSURANCE INDUSTRY IS PLAYING CATCH UP. THE NEED FOR INSURANCE IS BECOMING MORE AND MORE APPARENT, AND CANNABIS COMPANIES ARE SCRAMBLING TO COME UP WITH THE RIGHT COVERAGE FOR A PRODUCT THAT IS LEGAL IN COLORADO YET STILL ILLEGAL UNDER FEDERAL LAW. Which makes it all the more essential to find an insurance agent who can help you find coverage that will protect your business. “Just like the entire industry, insurance products are new and changing constantly, so it is important to have a knowledgeable agent to help you,” says Stefani Day, chief operating officer of Cannabis Insurance Services. “It’s different than normal business insurance, and it saves a lot of headache in the future if you know what coverage you have and have someone there to help clean up the mess.” Day proposed the idea of creating an agency that specializes in just cannabis insurance to CIS president Brad Colling. “I am a huge advocate of the cause,” Day says, “and though I haven’t had any medical conditions or real personal success stories of how cannabis has helped me live a better life, I believe in human rights and holistic healing. I want the industry to succeed and thrive, and though my profession might not be the most sexy or have the best rep, it is definitely necessary.” Cannabis Insurance has come a long way in the last year, especially in delivering products that specifically fit the industry. “Not only are we working with the cannabis industry in offering them protection,” Day says. “But we are also working with the carriers to design products that are fair to everyone.” earlier this year, under the umbrella of the C.I.S. Insurance Group, which has a long history working with property and casualty insurance. “Brad and I both have been doing insurance for years and know how important it is for a

STEFANI DAY

CHIEF OPERATING OFFICER C ANNABIS INSURANCE SERVICES

business to have. Cannabis is a legitimate business and needs just as much protection as any other business.” C A N N A B I S I N S U R A N C E H AS CO M E A LO N G WAY I N T H E LAST YEAR, ES P ECIALLY I N DEL I V E R I N G P R O D U C T S T H AT S P E C I F I C A L LY F I T T H E I N D U ST RY. CIS offers pretty much the same products for the cannabis industry as it would for any other, including general liability, workers' compensation, and building and contents coverage. “We also have products to protect crops, recalls, product liabilities, equipment breakdowns, or cyber liability,” Day says. Their client base runs the gamut. “We have dispensaries, grow houses, bud trimmers, delivery and transportation businesses, manufacturers, lessors/property owners, and doctors.” When insurance giant Lloyd’s of London stopped covering cannabis businesses in summer of 2015, it left many companies stranded, and it left an opening for new carriers to come in and develop better products. “Insurance in the industry has a bad rap and I want to change that,” says Day. “We work for the clients to help them find the best coverage to fit their needs. Brad has the experience and I have the passion, so together we are a great team.”

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OCTOB E R 201 6

© JOHN GRAY

Colling and Day started Cannabis Insurance Services

Sensi Magazine-Denver/Boulder (October 2016)  
Sensi Magazine-Denver/Boulder (October 2016)