RB Jones unveils in-transit offering for cannabis

New York-based managing general underwriter RB Jones said it has launched of a new in-transit offering for cannabis.

Coverage for both facility owners and third-party transportation companies is backed by Atain Insurance Co., part of the H.W. Kaufman Financial Group Inc. family of companies, according to an RB Jones statement.

The product includes all cannabis, hemp and CBD products, and targeted classes of business include the entire supply chain, from growers, cultivators and hemp/CBD manufacturers to distributors and dispensaries, the statement said.

Limits offered for coverage are $250,000 for cannabis in transit any one covered vehicle; $25,000 cash in transit any one covered vehicle; $5,000 any one unattended vehicle and $25,000 for debris removal, according to an email from a spokeswoman.

Mark Engel, senior vice president and managing director for RB Jones, said in the statement the cannabis sector remains challenging given the varying regulatory conditions nationwide and is “severely underinsured.”