Even though cannabis is legal in your state, it still may be difficult for a business that sells cannabis to the public for recreational or medicinal use to obtain insurance that covers the business needs.
Now, in California, Insurance Commissioner Dave Jones has approved the filing of the first admitted commercial insurance company to file cannabis business insurance. Cannabis businesses licensed by the state may purchase commercial insurance coverage from the insurance company licensed specifically to sell cannabis coverage. That insurer can begin writing policies and offering coverage for cannabis business owners as of Nov. 3, 2017.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
