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Reduce your Cannabis Workers’ Comp Insurance Costs

Managing workers' compensation insurance can be challenging for cannabis businesses in a rapidly evolving industry. In this article, we’ll cover six strategies to help you reduce your workers’ comp costs.

Workers’ Comp Rates for Cannabis Workers

In 2024, the average workers’ comp rate for a cannabis worker is $0.88 per $100 of payroll, plus taxes and fees. Your exact premium will depend on your state, payroll size, and claims history.

Cannabis Workers’ Comp Class Codes: A Guide

Workers' compensation insurance protects cannabis business owners from potential lawsuits and provides financial assistance to employees for work-related injuries or illnesses. Understanding the various cannabis workers’ comp class codes ensures your business is adequately covered and avoids any surprises with your insurance rates.

workers' compensation insurance for cannabis workers

Do Cannabis Workers need Workers' Compensation Insurance?

Cannabis workers need workers’ compensation insurance in almost every state. This insurance provides benefits to workers who suffer job-related illnesses or injuries. The cannabis industry is new compared to many other sectors. It also has a set of unique responsibilities and challenges. As this industry moves from the fringes to the mainstream, it’s essential to ensure employees are secure and safe while employed.

Workers' Compensation for the Cannabis Industry - A Guide

Workers' compensation for the cannabis industry provides medical and wage benefits to employees who get injured or ill due to job-related activities. This coverage is required by law and helps you follow state rules, avoid fines, and prevent lawsuits. Common injuries in this industry include slips, falls, exposure to pesticides, and accidents with equipment.

The Knowledge Base

helpful tidbits from the experts

In focus:

Cannabis

Reduce your Cannabis Workers’ Comp Insurance Costs

Workers’ Comp Rates for Cannabis Workers

Cannabis Workers’ Comp Class Codes: A Guide

Do Cannabis Workers need Workers' Compensation Insurance?

Workers' Compensation for the Cannabis Industry - A Guide

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