"The lack of traditional crop insurance and overall capacity to cover the values that many outdoor grows needed, led quickly to a parametric route of risk transfer," says Evan Stait of HUB International. (Credit: Yarygin/Shutterstock.com)

With cannabis prices in California ranging from $200 to more than $250 per ounce, according to a consumer price index, coverage for a cannabis growing operation can be quite a heavy lift for traditional insurance policies. When moving the plants outside, exposing them to wind, hail, droughts, floods and other damaging weather, the ante goes up even further.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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