• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Exclusives
    • Nutraceuticals
    • Markets
    • Health
    • Jobs
    • Events
    • Buyers' Guide
    • Showcases
    • More
  • Magazine
  • News
  • Exclusives
  • Nutraceuticals
  • Markets
  • Health
  • Jobs
  • Events
  • Buyers' Guide
  • Showcases
  • Current & Past Issues
    Features
    Columns
    Editorials
    Digital Edition
    Subscribe Now
    Advertise Now
    eNewsletter
    Editorial Guidelines
    Top Features
    Delivering Better Gut Health Supplements

    Delivering Dietary Supplements that Exceed Consumer Expectations

    Green Business Network Seeks Comment on New Certification for Hemp-CBD Businesses

    Sweeteners Market Continues to Broaden with Cleaner Labels and Better Formulations

    Optimizing Gut Health: Unlocking the Gates to Well-Being
    Breaking News
    Certifications, Approvals and Patents
    Exclusives
    Industry & Market News
    People
    Products
    Regulatory
    Research
    Supplier News
    Supplier Insights
    Live From Shows
    Top News
    Kyowa Hakko Launches Heat-Treated Probiotic Strain for Eye Health

    CGA-7 Green Coffee Extract by Vidya Herbs Achieves Self-Affirmed GRAS Status

    Nutritional Complex Evidenced to Reduce Preterm Birth

    Meta-analysis Determines HMB Supplementation Promotes Healthy Muscle Mass in Older Adults

    AHPA’s 9th Botanical Congress to Take Place May 24
    Exclusives
    Blogs & Guest Articles
    Health E-Insights
    Area Code 420
    eBook
    Antioxidants
    Dairy-Based Ingredients
    Enzymes
    Fatty Acids
    Fiber & Carbohydrates
    Green Foods
    Herbs & Botanicals
    Marine Nutraceuticals
    Minerals
    Omega 3s
    Probiotics & Prebiotics
    Proteins, Peptides, Amino Acids
    Sweeteners
    Vitamins

    Kyowa Hakko Launches Heat-Treated Probiotic Strain for Eye Health

    CGA-7 Green Coffee Extract by Vidya Herbs Achieves Self-Affirmed GRAS Status

    Nutritional Complex Evidenced to Reduce Preterm Birth

    Meta-analysis Determines HMB Supplementation Promotes Healthy Muscle Mass in Older Adults

    AHPA’s 9th Botanical Congress to Take Place May 24
    Consumer Trends
    Contract Manufacturing
    Cosmeceuticals / Nutricosmetics
    Delivery & Dosage Technologies
    Dietary Supplements
    Flavors & Colors
    Functional Foods & Beverages
    Healthcare Trends
    Medical Nutrition
    Mergers & Acquisitions
    Natural/Organic
    Nutrition Bars
    Packaging
    Pet Nutraceuticals
    Quality & Safety
    Regulations
    Research
    Testing
    World Markets

    Kyowa Hakko Launches Heat-Treated Probiotic Strain for Eye Health

    CGA-7 Green Coffee Extract by Vidya Herbs Achieves Self-Affirmed GRAS Status

    Nutritional Complex Evidenced to Reduce Preterm Birth

    Meta-analysis Determines HMB Supplementation Promotes Healthy Muscle Mass in Older Adults

    AHPA’s 9th Botanical Congress to Take Place May 24
    Bone & Joint Health
    Cancer Risk
    Cardiovascular Health
    Cognitive Function
    Diabetes & Blood Sugar Management
    Digestive Health
    Energy
    Eye Health
    Healthy Aging
    Immune Function
    Infant & Children's Health
    Inflammation
    Men's Health
    Mood Health & Sleep
    Oral Health
    Sexual & Reproductive Health
    Skin Health
    Sports Nutrition
    Weight Management/Weight Loss
    Women's Health

    Kyowa Hakko Launches Heat-Treated Probiotic Strain for Eye Health

    CGA-7 Green Coffee Extract by Vidya Herbs Achieves Self-Affirmed GRAS Status

    Nutritional Complex Evidenced to Reduce Preterm Birth

    Meta-analysis Determines HMB Supplementation Promotes Healthy Muscle Mass in Older Adults

    First Day Life Shuts Down Children's Behavioral, Cognitive Health Claims Following Challenge
    Industry Events
    Live From Show Events
    Webinars
    All Companies
    Categories
    Trade Associations
    Company Capabilities
    International Buyers Guide Companies
    Gencor

    AIDP

    Sabinsa Corporation

    Vesta Nutra

    KLK OLEO - Davos Life Science
    Companies
    Product Releases
    News Releases
    Literature / Brochures
    White Papers
    Jobs
    VIdeos
    Services
    Add New Company
    International Buyers Guide Companies
    Indena USA, Inc.

    Xsto Solutions

    Chenland Nutritionals Inc.

    Bioenergy Life Science, Inc. (BLS)

    AIDP
    • Magazine
      • Current / Back Issue
      • Features
      • Editorial
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Buyers' Guide
      • All Companies
      • Categories
      • Trade Associations
      • Company Capabilities
    • Nutraceuticals
      • Antioxidants
      • Dairy-Based Ingredients
      • Enzymes
      • Fatty Acids
      • Fiber & Carbohydrates
      • Green Foods
      • Herbs & Botanicals
      • Marine Nutraceuticals
      • Minerals
      • Omega 3s
      • Probiotics & Prebiotics
      • Proteins, Peptides, Amino Acids
      • Sweeteners
      • Vitamins
    • Markets
      • Consumer Trends
      • Contract Manufacturing
      • Cosmeceuticals / Nutricosmetics
      • Delivery & Dosage Technologies
      • Dietary Supplements
      • Flavors & Colors
      • Functional Foods & Beverages
      • Healthcare Trends
      • Medical Nutrition
      • Mergers & Acquisitions
      • Natural/Organic
      • Nutrition Bars
      • Packaging
      • Pet Nutraceuticals
      • Quality & Safety
      • Regulations
      • Research
      • Testing
      • World Markets
    • Health
      • Bone & Joint Health
      • Cancer Risk
      • Cardiovascular Health
      • Cognitive Function
      • Diabetes & Blood Sugar Management
      • Digestive Health
      • Energy
      • Eye Health
      • Healthy Aging
      • Immune Function
      • Infant & Children's Health
      • Inflammation
      • Men's Health
      • Mood Health & Sleep
      • Oral Health
      • Sexual & Reproductive Health
      • Skin Health
      • Sports Nutrition
      • Weight Management/Weight Loss
      • Women's Health
    • Online Exclusives
    • Webinars
    • Slideshows
    • Blogs & Guest Articles
    • Health E-Insights
    • Videos
    • Podcasts
    • eBook
    • Infographics
    • Whitepapers
    • Research
      • TrendSense
      • Monograph Center
      • White Papers
      • Research News
    • Jobs
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Supplier Showcases
      • Companies
      • Product Releases
      • News Releases
      • Literature / Brochures
      • White Papers
      • Jobs
      • VIdeos
      • Services
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Columns

    CBD Insurance: ‘The Perfume of the Premium’ Strengthens

    The insurance marketplace for hemp growers and CBD manufacturers will continue to expand.

    CBD Insurance: ‘The Perfume of the Premium’ Strengthens
    Related CONTENT
    • Mary Jane’s Botanicals: Unique Formulations Hand-Crafted with Premium Ingredients
    • Open Book Extracts: Innovating for Tomorrow’s Market
    • Sunflower Hemp Co
    • CBD Dog Health and Fire Flake Farm: Holistic Healing for Furry Friends
    • An Interview with Manoj Dadlani, CEO, CosmosID
    By Sheldon Baker, Baker Dillon Group LLC10.07.19
    Greg Doherty is an independent commercial insurance broker and consultant to the CBD and dietary supplement industries. He consults for all-natural health sectors, including but not limited to contract manufacturers, raw materials suppliers, testing labs, distributors, and retailers. Doherty is a recognized authority on dietary supplement liability insurance. He has four decades of experience as a broker, focusing on the nutraceutical industry for 17 years. More recently, he has quickly become one of the leading insurance advisors to the CBD industry. For more information: visit www.gregdoherty.net.

     
    Area Code 420 (AC 420): What type of insurance is available to companies selling CBD and hemp products?

    Doherty:
    All types of commercial insurance are available. However, far and away the most important insurance purchase, and the hardest to obtain, is commercial general liability, including product liability insurance. This will help the company sleep better at night and/or pave the way for entering a retail facility with its brand. With more large retailers such as CVS, Kroger, and Vitamin Shoppe starting to sell CBD products, the need for this insurance will only increase as the CBD market expands. Other types of commercial insurance, such as automobile, worker’s comp, directors and officers, and property (fire) insurance, are relatively easy to secure, in comparison.

    AC 420: Didn’t the passage of the Farm Bill open the door to legal selling, thus making insurance coverage as easy as purchasing auto insurance?

    Doherty:
    No. Remember that insurance companies are cautious beasts. Just like the merchant banking industry, many insurance companies are still sitting on the sidelines with respect to insuring CBD. It is true that two or three more insurance companies did start offering liability insurance for CBD after the Farm Bill passed, but as of this interview, there are still only a handful offering liability insurance for the CBD industry.

    AC 420: Where does insurance stand as it pertains to cannabis, either recreational or medical?

    Doherty:
    I am not trading in cannabis, only CBD. I decided to stay out of cannabis because the availability of insurance for that industry is even more limited than that for CBD. There are plenty of people out there holding themselves out as cannabis experts and I am not one of them. 

    AC 420: Can all areas of CBD and hemp growers and product manufacturers obtain insurance coverage and what might the cost be?

    Doherty:
    Yes, insurance is available but again, the market is thin. Hemp growers can get crop insurance. CBD extracting facilities, wholesalers, and retailers—be it their own brand or white label—can get insurance. Because the market is limited, you need to know where to look to get it.

    AC 420: Can product testing labs get coverage?

    Doherty:
    Yes. This is not a problem because the labs are not selling CBD products for human consumption. The kind of insurance they need for this is called errors and omissions, not product liability, and yes, it is available.

    AC 420: Is there a way to compare insurance company costs (i.e., shop around)?

    Doherty:
    There is nothing wrong with shopping around. However, all carriers selling CBD liability insurance command the use of a broker. Further, broker shopping is a bad idea for two reasons. First, what most people do not realize is that an insurance company will only work with one broker at a time; in other words, the insurer won’t release multiple or different quotes to multiple brokers. Second, when you are talking to brokers who aren’t knowledgeable about CBD, they may give you a broker quote, which is worthless and will probably only serve to confuse. Yes, one should shop for the broker who exhibits the most knowledge on the subject and select that broker to approach the viable CBD insurers on their behalf.
     
    AC 420: As a supplement industry insurance expert, how do you think the insurance industry will evolve around the CBD and hemp marketplace?

    Doherty:
    I believe the availability of insurance products for the CBD industry will definitely expand, which will of course increase competition and lower prices. I am not sure of the timing, but I believe as the industry matures, insurers will begin to smell what I call “the perfume of the premium” from CBD companies.


    Sheldon Baker

    Sheldon Baker is CEO of the Baker Dillon Group LLC and has created numerous nutraceutical brand marketing communications and public relations campaigns for many well-known supplement and food industry companies. For Health E-Insights interview consideration or brand marketing consulting, contact him at Contact@The420AreaCode.com.
    Related Searches
    • consultant
    • sleep
    • Nutraceutical
    • Vitamin
    Related Knowledge Center
    • Dietary Supplements
    • Healthcare Trends
    • Herbs & Botanicals
    Suggested For You
    Mary Jane’s Botanicals: Unique Formulations Hand-Crafted with Premium Ingredients Mary Jane’s Botanicals: Unique Formulations Hand-Crafted with Premium Ingredients
    Open Book Extracts: Innovating for Tomorrow’s Market Open Book Extracts: Innovating for Tomorrow’s Market
    Sunflower Hemp Co Sunflower Hemp Co
    CBD Dog Health and Fire Flake Farm: Holistic Healing for Furry Friends CBD Dog Health and Fire Flake Farm: Holistic Healing for Furry Friends
    Securing CBD Insurance Requires Proper Broker Vetting Securing CBD Insurance Requires Proper Broker Vetting
    An Interview with Manoj Dadlani, CEO, CosmosID An Interview with Manoj Dadlani, CEO, CosmosID
    An Interview with Ned Becker of Columbia Nutritional An Interview with Ned Becker of Columbia Nutritional
    Cannovia: Clearing Up CBD Market Confusion Cannovia: Clearing Up CBD Market Confusion
    Emerald Bioceuticals: Broad Support for the Endocannabinoid System Emerald Bioceuticals: Broad Support for the Endocannabinoid System
    Balanced Health Botanicals: Fueling The CBD Movement Balanced Health Botanicals: Fueling The CBD Movement
    Mile High Labs: Stephen Mueller & The Mile High Monster Mile High Labs: Stephen Mueller & The Mile High Monster
    An Interview with Tracey Seipel, ND, of the Seipel Group An Interview with Tracey Seipel, ND, of the Seipel Group
    Area Code 420 Has Arrived Area Code 420 Has Arrived
    An Interview with Christopher Detzel of Entera Health An Interview with Christopher Detzel of Entera Health
    ‘Can I Get Liability Insurance for My ‘Illegal’ CBD Products? ‘Can I Get Liability Insurance for My ‘Illegal’ CBD Products?

    Related Columns

    • Dietary Supplements | Healthcare Trends | Medical Nutrition | Regulations
      Medically Necessary Foods: Pricing & Reimbursement Considerations

      Medically Necessary Foods: Pricing & Reimbursement Considerations

      Navigating the large and growing medical foods market requires understanding key dynamics.
      By Gregory Stephens, Windrose Partners 04.08.21

    • Dietary Supplements | Regulations
      Dual Tracking of New Ingredients as Dietary Supplements and Drugs

      Dual Tracking of New Ingredients as Dietary Supplements and Drugs

      It’s possible to develop novel ingredients for both the dietary supplement and drug markets, but timing is important and there are gray areas.
      By Todd Harrison, Venable 04.08.21

    • Dietary Supplements | Probiotics & Prebiotics | Regulations | World Markets
      Probiotics & Prebiotics: The EU Ban is Shaking

      Probiotics & Prebiotics: The EU Ban is Shaking

      Some countries have not accepted the European Commission’s limitations on the term ‘probiotic’ and have implemented their own interpretations.
      By Joerg Gruenwald, analyze & realize ag 04.08.21


    • Herbs & Botanicals | Research
      Botanical Research: Medicinal Mushrooms, Bacopa & the Brain, Green Tea & Depression

      Botanical Research: Medicinal Mushrooms, Bacopa & the Brain, Green Tea & Depression

      AHPA compiles recent research on botanicals and plant compounds published in peer-reviewed journals.
      By Holly Johnson, PhD, American Herbal Products Association (AHPA) 04.08.21

    • Dietary Supplements | Healthcare Trends | Immune Function | Medical Nutrition | Vitamins
      Biden COVID Response Plan Overlooks Nutrition

      Biden COVID Response Plan Overlooks Nutrition

      Our field has a unique opportunity to demonstrate the merits of our products, and the principles and philosophies behind them.
      By Erik Goldman, Holistic Primary Care 03.03.21

    • Consumer Trends | Dietary Supplements | Herbs & Botanicals | Quality & Safety
      Open Book Extracts: Innovating for Tomorrow’s Market

      Open Book Extracts: Innovating for Tomorrow’s Market

      Dave Neundorfer has a clear vision to deliver pure and consistent cannabinoids for a range of product types.
      By Sheldon Baker 03.03.21


    • Consumer Trends | Dietary Supplements | Herbs & Botanicals | Regulations
      The Evolution of Insurance for Hemp & CBD

      The Evolution of Insurance for Hemp & CBD

      Delta-8-THC is the latest wrinkle in the hemp-derived products market.
      By Chris Morey, Bolton & Company 03.03.21

    • Dietary Supplements | Healthcare Trends | Medical Nutrition | Regulations
      The Off-Label On Ramp

      The Off-Label On Ramp

      With an expanding base of clinical research supporting nutritional interventions, off label use of dietary supplements and medical foods is likely to grow.
      By Gregory Stephens, Windrose Partners, and Sheila Campbell, PhD, RD 01.19.21

    • Dietary Supplements | Healthcare Trends | Immune Function | Regulations
      ‘Follow the Science’ Often Misses the Mark with Nutrition

      ‘Follow the Science’ Often Misses the Mark with Nutrition

      The mantra too often ignores common sense approaches to improving health and quality of life.
      By Todd Harrison, Venable 01.19.21


    • Dietary Supplements | Herbs & Botanicals | Regulations | World Markets
      CBD in Europe: News from the Front

      CBD in Europe: News from the Front

      A recent decision by the Court of Justice of the European Union has restored CBD’s status, and with it, the prospects of the entire industry.
      By Joerg Gruenwald, analyze & realize ag 01.19.21

    • Cardiovascular Health | Herbs & Botanicals | Immune Function | Research | Weight Management/Weight Loss
      Botanical Research: Botanicals & Immunity, Kava Challenges, Turmeric Therapeutics and More

      Botanical Research: Botanicals & Immunity, Kava Challenges, Turmeric Therapeutics and More

      AHPA compiles recent research on botanicals and plant compounds published in peer-reviewed journals.
      By Holly Johnson, PhD, American Herbal Products Association (AHPA) 01.19.21

    • Delivery & Dosage Technologies | Dietary Supplements | Herbs & Botanicals | Quality & Safety
      The Advantages of Organic, Broad Spectrum Hemp

      The Advantages of Organic, Broad Spectrum Hemp

      Mike Hennesy, Wana Brands, discusses the company’s new gummies, innovation, and continuing market evolution.
      By Sheldon Baker 12.04.20


    • Dietary Supplements | Regulations
      Insurance Rates Have Been at an All-Time Low, But a Hard Market is Coming

      Insurance Rates Have Been at an All-Time Low, But a Hard Market is Coming

      Companies can be prepared by being thorough and transparent while going through insurance policy renewals.
      By Chris Morey, Bolton & Company 12.04.20

    • Dietary Supplements | Regulations
      A Business Perspective on Protecting Confidential Information: The NDA

      A Business Perspective on Protecting Confidential Information: The NDA

      Along with taking precautions in providing access to confidential information, a non-disclosure agreement can be a great way to protect your business.
      By Gregory Stephens, Windrose Partners 11.09.20

    • Dietary Supplements | Healthcare Trends | Immune Function | Regulations | Research | Vitamins
      Using All the Tools to Improve Public Health

      Using All the Tools to Improve Public Health

      Industry needs to make a stand in compelling authorities to communicate the value of nutrition and dietary supplementation.
      By Todd Harrison, Venable 11.09.20

    Trending
    • NSF/Harvard Study Finds Deterenol, Other Stimulants In Sports & Weight Loss Supplements
    • Several Studies Evaluate Role Of Vitamin D In COVID-19 Outcomes
    • Study Investigates Probiotics Impact On COVID-19 Remission Rates
    • Focus, Endurance, Resilience: The Esports Community Is Seeking Out Supplements
    • New Study Confirms Vegan Vitamin D3 Ingredient Is Bioavailable
    Breaking News
    • Kyowa Hakko Launches Heat-Treated Probiotic Strain for Eye Health
    • CGA-7 Green Coffee Extract by Vidya Herbs Achieves Self-Affirmed GRAS Status
    • Nutritional Complex Evidenced to Reduce Preterm Birth
    • Meta-analysis Determines HMB Supplementation Promotes Healthy Muscle Mass in Older Adults
    • AHPA’s 9th Botanical Congress to Take Place May 24
    View Breaking News >
    CURRENT ISSUE

    April 2021

    • Sweeteners Market Continues to Broaden with Cleaner Labels and Better Formulations
    • Green Business Network Seeks Comment on New Certification for Hemp-CBD Businesses
    • Delivering Dietary Supplements that Exceed Consumer Expectations
    • Delivering Better Gut Health Supplements
    • Optimizing Gut Health: Unlocking the Gates to Well-Being
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Kyowa Hakko Launches Heat-Treated Probiotic Strain for Eye Health
    CGA-7 Green Coffee Extract by Vidya Herbs Achieves Self-Affirmed GRAS Status
    Nutritional Complex Evidenced to Reduce Preterm Birth
    Coatings World

    Latest Breaking News From Coatings World

    Barentz Expands Canadian CASE Team
    Shepherd Color Company Opens Sales Office in China
    Chromaflo Technologies Awarded Gold Status CSR Rating by EcoVadis in EMEA
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    CMS Establishes New Payment for Pelvalon’s Eclipse System
    Varian, Google Cloud Partner to Bring Convenience to Cancer Therapy
    Resonetics Leases New Manufacturing Space in Costa Rica
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Frontage Expands Capabilities at its Clinical Site in Secaucus, NJ
    Ascendia Pharmaceuticals Poised for Expansion
    Bora Pharmaceuticals Adds Roller Compaction Capabilities
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Revlon Unveils New Fragrances Featuring Megan Thee Stallion & Sofia Carson
    Henkel Management Board Welcomes Wolfgang König
    Mielle Organics Gets a Major Investment
    Happi

    Latest Breaking News From Happi

    Nature’s Beauty Debuts Vegan Natural Body Care at Walgreens
    Estée Lauder Expands 'Beautiful' Fagrance Collection
    Mushrooms Are Key Ingredients in Beauty & Wellness
    Ink World

    Latest Breaking News From Ink World

    SE-DA Invests in Kornit Presto S
    Kumon North America Adds Speedmaster XL 106 from Heidelberg
    Iron Oxide Pigments Market to Register 4.7% CAGR from 2021 to 2028: GVR
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Dantex elevates Joseph Sanchez to digital business development manager
    Mactac's Kevin Clunie joins TLMI panel
    MacDermid announces two new global sales roles
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Precision Textiles Offers Biodegradable Medical Fabric
    Northshore Launches Megamax Briefs in New Colors
    Essity Acquires Distribution Rights to Sorbact in Australia and New Zealand
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    New Biosealant Could Stabilize Cartilage, Boost Healing After Injury
    Google Executive Joins SeaSpine's Board of Directors
    HSS and LimaCorporate Open Provider-Based 3D Design and Printing Facility
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Tive Multi-sensor Tracker Solo 5G Relies on Sensirion SHT33
    VTT in 2020: Successful Year Despite Globally Challenging Times
    Lux Research: 3D Printing Market to Reach $51 Billion in 2030

    Copyright © 2021 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login