CICS

CANNABIS INSURANCE COVERAGE SPECIALIST

Gain insights in the following as they relate to the cannabis industry:
Insurance | Risk Management | Claims | Real Estate | Workers Compensation | Banking

Purchase the Course Take the Exam

About the Cannabis Insurance Coverage Specialist Designation

This forward-thinking program was developed by ALM’s subject matter experts and thought leaders in conjunction with multiple insurance, legal and cannabis industry experts. The coursework is hot off the presses and is being developed and updated to reflect the ever-evolving cannabis industry.

Who is it for?

The CICS Designation is recommended for the following:

Benefits of Attaining the CICS Designation

+Advanced coverage expertise and career professionalism.

+Being on the forefront of an ever-evolving industry.

+Industry and peer recognition for advanced knowledge in coverage areas.

+Optional CE credits may be available in your state for the CICS Designation program. This requires an additional CE exam that covers the program in its entirety. Contact Customer Service for instructions PRIOR to taking your exam.

Program Completion

The CICS Cannabis Insurance Coverage Specialist designation is earned through ALM |PC360 Education, and must be renewed every two years.

Requirements:

Curriculum Outline

I. Cannabis Insurance 101

The first course in the CICS designation program, features a detailed overview of the cannabis landscape, enhanced with real-life case study exercises. It’s the foundation for understanding the myriad issues related to running cannabis-touching businesses.

II. Managing the Risks of Cannabis-Related Businesses

The second module in the designation program, focuses on the risks inherent in cannabis-related insurance. It looks at some of the most pressing issues related to risk, beginning with a general overview of risk management, types of risk, theories and options related to controlling risk, and the steps necessary to implementing a viable risk management program. Next, we examine types of risks, including supply chain threats and risks related to federal and local regulation, as well as cultivation, manufacturing, retail, and legal issues. Finally, the course looks at insurance and exclusions affecting cannabis-related businesses such as criminal exclusions and health and hazard issues.

III. Understanding and Handling Cannabis Insurance Claims

Provides a cannabis adjuster, other insurance professionals, and those involved in cannabis-related businesses, with additional information on cannabis and hemp to aid in their understanding of coverages in relation to ISO product definitions, exclusions, and exceptions. It starts with an overview of general claims before diving into cannabis-exclusive claims topics including exclusions and documentation. The course then takes a much deeper look at the claims handling process in relation to cannabis for most major types of coverages, including auto, commercial general liability (CGL), workers compensation and others. The course finishes with a discussion on subrogation, fraud, and ethics issues related to the unique topic of cannabis-related claims coverages, as well as sample questions to assist an adjuster in a cannabis claim investigation.

IV. Real Estate and Cannabis Insurance

Touches on unique issues specifically related to state regulations around cannabis and real estate values. This course also examines types of cannabis-related real estate properties, such as, dispensaries and grow operations. Take an in-depth look at both real estate insurance related to cannabis, as well as, specific liabilities regarding cannabis-related properties. This course ends with a look at commercial general liability (CGL) declarations, including a sample policy.

V. Workers Compensation for Cannabis Businesses

Covers many aspects of workers compensation in regard to legalized cannabis and cannabis-related businesses. The course begins with an overview of the workers compensation system in general, including a deep dive into workers compensation coverage parts. We then go into an overview of workers compensation and cannabis, including existing and proposed legislation, as well as classifications for workers compensation as related to legal cannabis. The course finishes with an examination of the impact legal cannabis has had on workers compensation exposures, including topics like drug testing, reimbursement for medical use, and a look at exposures related to legal cannabis.

VI. Banking and Cannabis: Best Buds or Up in Smoke?

This course covers many financial aspects of legalized cannabis and cannabis related businesses. Beginning with a brief overview of banking and cannabis, the course takes a deep dive of prospective federal legislation that will affect the future of cannabis-related businesses. It also covers crucial components of cannabis and small businesses in relation to financial services regarding such businesses. This course finishes with an in-depth look at what building a strong banking program for cannabis-related businesses should look like, including models, workflows, and the keys to a program’s success.

In addition to the courses, you will receive exclusive information and articles from subject matter experts. You will also have access to ongoing specialized information related to cannabis to keep your credentials upto-date post program.