News & Analysis as of

Marijuana Insurance Industry

Bricker Graydon LLP

2023 Second Half Year End Review and 2024 Preview

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In the second half of 2023, the 135th Ohio General Assembly returned after its summer recess, initially set to focus on the state legislative redistricting process. The legislature spent most of the fall campaigning on...more

Bradley Arant Boult Cummings LLP

Preparing a Cannabis Application: Five Things I Learned

Bob Seger’s “Against the Wind” is an anthem to love and growing old. Among its many great lines is “wish I didn’t know now what I didn’t know then.” Can you tell I recently turned 40? But I write today not about what I...more

Perkins Coie

Cannabis Legal Report - June 2022 #2

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Cannabis: In Focus - • New Mexico class action calls for insurance coverage for medical cannabis • Bicameral attempt to legislate bipartisan cannabis omnibus package • Oregon ban on “artificially derived cannabinoids”...more

Pillsbury - Policyholder Pulse blog

Insurance Considerations for Cannabis Delivery Services

The legal cannabis industry in the U.S. is growing at an unprecedented rate and is projected to reach $73.6 billion by 2027. While federal law still classifies marijuana as a Schedule I drug, many states have legalized both...more

Cooley LLP

Alert: Bipartisan Bill Would Provide Federal Safe Harbor for Insurance for the Cannabis Industry

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On March 18, US Senators Robert Menendez, D-NJ, Rand Paul, R-KY, and Jeffrey Merkley, R-KY, introduced legislation meant to encourage insurer penetration in the cannabis industry. Under the Clarifying Law Around Insurance of...more

Locke Lord LLP

Senate to Consider Legislation To Allow Cannabis Businesses to Purchase P&C and Title Insurance

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On Monday, the ‘‘Clarifying Law Around Insurance of Marijuana Act’’ or ‘‘CLAIM Act” was introduced before the United States Senate by Sen. Menendez (D-N.J.)....more

Downs Rachlin Martin PLLC

2019 Final Legislative Update for Commerce - Final Analysis from DRM's Government & Public Affairs Team

Early in the session, the House Commerce and Economic Development Committee established workforce development as its priority. The committee took weeks of extensive testimony on the workforce issues facing Vermont. ...more

Farella Braun + Martel LLP

Insurance for the Cannabis Industry Program Takeaways

I recently moderated a Bar Association of San Francisco Insurance Section program co-sponsored with the Cannabis Law Section. The program highlighted recent changes to local insurance requirements and market availability of...more

Eversheds Sutherland (US) LLP

NAIC 2019 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2019 Spring National Meeting from April 5 through 9 in Orlando, Florida. This meeting was distinguished by a very large class of new commissioners (15 in...more

Pillsbury - Policyholder Pulse blog

Cannabis Legalization in New Jersey: Insuring the Garden State’s Plants

New Jersey’s greatest contribution to American rock ’n’ roll, Bruce Springsteen, was nearly relegated to obscurity by a marijuana bust involving his bandmates. Rock legend has it that one of The Boss’ early bands, the...more

Carlton Fields

Sixth Circuit Weighs In On Coverage For Marijuana-Related Property Loss

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The Sixth Circuit Court of Appeals issued a colorful opinion in a property insurance coverage dispute affirming a denial of coverage for loss arising out of an illicit marijuana growing operation in Michigan. The case is...more

Pillsbury - Policyholder Pulse blog

The Times They Are A-Changin’ for Cannabis Insurance

Like Bob Dylan, marijuana has gone from symbol of 1960s counter-culture to mainstream appeal. It is telling that Lloyd’s of London (which reportedly insures Mr. Dylan’s vocal chords) has also recently announced that that it...more

Bradley Arant Boult Cummings LLP

Coverage for Cannabis? How Cannabis’s Legal Limbo Affects Property Insurance Policies

A recent federal court of appeals’ decision raises interesting questions for all policyholders, particularly commercial and residential landlords with tenants that grow, possess, and/or distribute cannabis, even where it is...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The US dialed up the heat in its trade war with China even further last night, announcing the imposition of tariffs by September 24th on an additional $200 billion worth of Chinese goods. When combined with the existing...more

Locke Lord LLP

NAIC Establishes Cannabis Insurance Working Group

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The National Association of Insurance Commissioners (“NAIC”) voted earlier this week to establish a Cannabis Insurance Working Group (“Working Group”) to address insurance issues affecting the legalized cannabis industry....more

Locke Lord LLP

California Insurance Commissioner Approves First Cannabis Business Owners Policy

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On June 4, California Insurance Commissioner Dave Jones announced that he approved the first Cannabis Business Owners Policy (“CannaBOP”) in California. In announcing the approval, Commissioner Jones stated, “This...more

Locke Lord LLP

NAIC’s Center for Insurance Policy and Research Hosts Webinar About the Insurance Needs of the Cannabis Industry

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On Wednesday, the NAIC’s Center for Insurance Policy and Research hosted a webinar entitled “Weeding Through the Unique Insurance Needs of the Cannabis Industry.” The webinar kicked off with comments from Dave Jones,...more

Farella Braun + Martel LLP

Insuring Cannabis: Not Business As Usual, Yet

The legalization of cannabis in many states is helping the industry to become mainstream and gain access to insurance products taken for granted in other economic sectors. But there is still a long way to go until the...more

Locke Lord LLP

California Department Encourages Development of Insurance Products for Legal Cannabis; Industry Begins Moving In

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In a letter sent to California insurers on 4/20, California Insurance Commissioner Dave Jones reiterated his call for insurers to file rates and forms for insurance products for the California cannabis industry. In an effort...more

Zelle  LLP

Clashing Marijuana Laws Create Insurer Anxiety

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As the majority of U.S. states move toward various degrees of legalization, marijuana remains illegal at the federal level. This dichotomy challenges courts to evaluate the validity of contracts, including insurance policies,...more

Farrell Fritz, P.C.

Medical Marijuana 104: Responsibilities of Health Insurers

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It will come as no surprise that patients who are thinking about getting certified for medical marijuana use have a number of questions relating to the cost of obtaining medical marijuana products....more

Zelle  LLP

Clearing up the Smoke: Insurance and Marijuana

Zelle LLP on

Following on from our last article concerning issues for (re)insurers arising from an insured’s illegal conduct, this article examines the issues arising out of the burgeoning legalized marijuana industry in the U.S. ...more

Partridge Snow & Hahn LLP

The New Massachusetts Recreational Marijuana Law – Impact on the Insurance Industry

On December 15, 2016, The Regulation and Taxation of Marijuana Act (the “Act”) became effective, decriminalizing marijuana ownership and use for private citizens in the Commonwealth, and mandating the creation of a regulatory...more

Carlton Fields

Grateful Marijuana Grower Scores Coverage Victory in Colorado Federal Court

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The Green Earth Wellness Center operates a retail medical marijuana business and adjacent growing facility in Colorado Springs, Colorado. In 2012, it purchased commercial insurance from Atain Specialty Insurance Company....more

Cozen O'Connor

Colorado Court Finds Legal Marijuana Insurable Under Commercial Property Policy and Orders Trial on Claim for Damaged Buds

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ArcView Group, which tracks the legal marijuana markets, recently estimated that legal U.S. pot sales could reach $6.7 billion in 2016. As the legal marijuana economy has grown, insurance coverage for this emerging industry...more

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