Cannabis technology platform Dutchie announced on Wednesday that the company would begin offering a comprehensive insurance program for businesses in the legal marijuana industry, saying that the new offering “provides a crucial service and better protection for any stakeholder in the cannabis supply chain, in every legal market across the United States.”
“Cannabis businesses need appropriate insurance coverage that gives them peace of mind and confidence that their businesses will be protected no matter what,” Mauricio Comi, head of insurance at Dutchie, said in a statement from the company. “Dutchie Insurance builds on our mission to help create safe and easy access to cannabis by ensuring the industry is supported and in a position to reach its full potential.”
Dutchie is a cannabis technology platform that provides services that enable commerce, streamline dispensary operations and provide consumers access to businesses in the legal marijuana industry. The company offers a POS system for cannabis dispensaries, and in July, it launched Dutchie Pay, a new digital payment system for marijuana dispensaries that gives retailers and their customers an option to conduct transactions without cash. Dutchie’s services are used by more than 5,500 cannabis dispensaries in the United States and Canada, helping them ring up more than $14 billion in annual sales, according to data provided by the company.
Cannabis Business Insurance A Challenge
Earlier this year, the National Association of Insurance Commissioners (NAIC) noted that companies in the cannabis industry face the challenges of obtaining adequate insurance coverage for their legal marijuana businesses. The group, comprised of insurance regulators from across the country, said that the division between state and federal law over cannabis makes it difficult for