Law360, New York (February 3, 2017, 11:55 AM EST) -- Christopher L. Troy
Deepa T. Sutherland
Hernán N. Cipriotti
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.
The cultivation and use of marijuana for medicinal and/or recreational purposes are now permitted in 29 states and in Washington D.C. However, marijuana is still classified as a Schedule I controlled substance under the federal Controlled Substances Act, and the manufacture, possession, distribution and sale of marijuana for any purpose is, therefore, illegal under federal U.S. law.
This conflict between...
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