A Look At 1st-Party Insurance Coverage For Cannabis

Law360, New York (May 18, 2017, 11:23 AM EDT) -- In 1996, California legalized the use of medical cannabis in limited situations and in November 2016, California voters approved the recreational use of cannabis, subject to certain limitations. As a result, the cannabis industry — particularly in California — continues to grow at an exponential rate. Obviously, the cannabis industry presents unique risks. Although some insurers have sidelined themselves and decided not to insure this burgeoning industry, others are creating new insurance products to match the industry’s needs. As a result, a number of specialized cannabis-specific...
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