CBD has been gaining in popularity over the past several years. There is an enormous body of anecdotal evidence that it can help with a wide range of symptoms and conditions. More importantly, as research starts to trickle in there appears to be scientific support for at least some of the health claims made by CBD companies. Those studies are driving the CBD nutraceuticals market to become an increasingly larger share of the overall health and wellness market.
A Growing Market Segment
Nutraceuticals are dietary components that are also used to treat or prevent illnesses. Regulations that prohibit the marketing of supplement products including CBD as a cure or treatment for illnesses without FDA approval haven’t stopped people from embracing CBD as a key component of their wellness routines. Yet, it is still a young field and there are plenty of grey areas where errors can be made. If you are currently in the CBD market, you need to take steps to safeguard your business operations and reduce risk.
Risks CBD Nutraceutical Companies Face
While risks vary depending on the type of business you operate, some of the more common ones arise from:
- Improper labeling
- Making exaggerated or false claims about products
- Mislabeled or tainted ingredients
- Adverse side effects or allergic reactions
Having the right insurance policy can help you manage many of the risks associated with CBD. Check with your insurer to ensure that any claims associated with CBD and help products are included in your coverage.