A recent Forbes article highlighted additional states expected to legalize medicinal use of cannabis this year, as well as those expected to legalize recreational use.
As the cannabis industry continues to evolve in states across the nation, regulation of this emerging industry has become a hot topic, as has the ability of the insurance industry to meet the needs of cannabis-focused businesses.
NAMIC recently analyzed the issue of insuring cannabis companies in a policy paper, which Insurance Library Executive Director Paul Tetrault contributed to as an author: CANNABIS: FROM CRIMINALITY TO COMMERCIAL ENTERPRISE Understanding the Intersection With Property/Casualty Insurance.
If you’re interested in going deeper into the subject, The Library has a number of additional resources devoted to the topic, including:
Cannabis Insurance: Carriers and Intermediaries Don’t Want to be Too Far Out Front or Left Behind by Joseph S. Harrington, CPCU, Rough Notes, 162, no. 2 (February 2019): 76-78
Cannabis Insurers have ‘Great Opportunity’ in California: More Than 100 Brokerages are Working to Place Coverage in the State for Cannabis to Date by Dan Reynolds, Risk & Insurance, 29 no. 7 (September 1, 2018): 32-33
Marijuana New Markets and Legal Uncertainty: What is an Insurance Agent to Do? By Richard S. Pitts, Resources (Fall 2018): 22-24
Taking the High Road with Property & Casualty Cannabis Insurance by Phillip D. Skaggs, The Demotech Difference, 4, no. 3 (Summer 2018):10-12, 42, 43
A Look at the Law: Maine Employers Not Obligated to Fund Medical Marijuana The CSR Advisor, 30, no. 1 (August 2018): 5-6
Administrative Decisions: Worker Secures Medical Marijuana for Chronic Pain Workers Compensation Report, 30, no. 6 (January 2019): 10
Research Links Medical Marijuana Laws with Lower Prescription Drug Spending The Standard, 282, no. 7 (March 30, 2018): 1, 9-11
Special Issue on Marijuana: Legal Pot Crashes are up in States with Retail Sales; Cannabis Users Who Drive with Children Don’t Always View it as a Safety Risk; New Q&A on Marijuana Status Report Insurance Institute for Highway Safety/Highway Loss Data Institute, 53, no. 6 (October 18, 2018)