marijuana insurance News

Expert Sees a ‘Strong Need’ for Insurance for Cannabis Industry

There’s “still a really strong need” for specialty insurance to cover cannabis businesses as well as medical professionals prescribing cannabis, according to an attorney who specializes in the sector. Ian Stewart, a partner in Wilson Elser and chair of the …

New Specialty Offering from HUB Targets Cannabis Producers, Distributors, Retailers

Global insurance brokerage Hub International Limited (HUB) has formed a comprehensive cannabis insurance and risk services offering under its Agribusiness & Farm Specialty Practice. The new offering is designed to reduce risks in all aspects of operations for medical and …

California Commissioner Named Chair of New NAIC Cannabis Committee

The National Association of Insurance Commissioners has named California Insurance Commissioner Dave Jones chair of its new Cannabis Insurance Working Group. Jones proposed that the NAIC establish this working group the NAIC’s Summer National Meeting. The reason for creating the …

Alaska Marijuana Business License Applications Outpacing System

The number of applications for marijuana business licenses is outgrowing the Alcohol and Marijuana Control Office’s approval system. The Fairbanks Daily News-Miner reports a May 8 Marijuana Control Office spreadsheet says there are 467 applications being processed with another 46 …

Hundreds of Illegal Pot Shops Operating in Los Angeles, Police Say

Los Angeles has issued licenses to nearly 100 marijuana retailers but police estimate there are at least two times that number operating illegally in the city and undercutting those who are playing by the rules. Police have shut down eight …

Filling Approved for First Admitted Insurer in California to Sell Cannabis Insurance

The California insurance commissioner has approved the first filing by an admitted commercial insurance company to sell cannabis business insurance. Insurance Commissioner Dave Jones on Thursday announced the approved filing from Golden Bear Insurance Co. “This is the first of …

‘Office Of Cannabis’ OK’d by San Francisco Supervisors

San Francisco officials have approved a new Office of Cannabis in advance of recreational marijuana sales starting in California next year. The San Francisco Chronicle reported that the Board of Supervisors also directed the new office to analyze disparities that …

Nevada’s Recreational Marijuana Sales Launch Hinges on Court Decision

Nevada’s marijuana regulators are working furiously to launch recreational sales on July 1, a fast-approaching deadline that could hinge on a court deciding whether the powerful liquor industry should be guaranteed a piece of the pot pie before tourists and …

Court Rules Neighbors Can Sue Colorado Pot Grower over Stink

A Colorado pot farm’s neighbor can sue them for smells and other nuisances that could harm their property values, a federal appeals court ruled. The 10th U.S. Circuit Court of Appeals ruling revives a lawsuit between a Colorado horse farm …

Bipartisan Senators Look to Address Banking Risk for Marijuana Industry

Republican and Democratic senators on Wednesday renewed their drive to make banking easier for marijuana-based businesses in those U.S. states where the drug is legal, undeterred by signals from the Trump administration about maintaining tough marijuana restrictions nationally. The eight …