By: Leo G. Aubel, Partner, Howard & Howard As conflicting state and federal laws regarding cannabis production, distribution, sales and marketing continue on their collision course, two major hurdles for the U.S. cannabis industry have come into focus: banking and title insurance. The purchase, sale, lease, and use of real estate by the cannabis industry in […]
Insurance
California cannabis company receives historic $1 million insurance payout following fire
It’s believed to be the largest insurance award ever given to a legal marijuana business. Industry insiders also see the event as another indicator of how rapidly the legal cannabis industry has matured, and how much corporate America’s “take” on cannabis companies has changed. Last month the Santa Barbara Independent reported that a Southern California cannabis cultivator […]
Too Stoned to Drive? Lawmakers Struggling to Find a Sure-Fire Test to Tell – Part 1 of 2
(Ed. note: Part 1 examines the current state of THC testing and the challenges for certifying a DUI) America’s history with marijuana is lengthy and fraught with hiccups. After decades of prohibition, the doorway of decriminalization paved the path for legal cannabis. Marijuana is legal for recreational use in eight states plus DC. 20 states […]
Canna Business 101: Insurance Coverage Options
By Steven Schain With Colorado’s July 2016 legalized marijuana sales reaching $122.7 million and nationwide annual sales to exceed $7 billion, insurance coverage should be plentiful and easily obtained. Instead, carriers are exiting the market, premium costs are increasing, and claims are being denied. Despite bellwethers Lloyd’s of London and Mutual of Omaha’s negative stance, […]
Adherence Compliance Launches Automated Cannabis Insurance Program Available in 12 States
Press Release Denver, Apr. 7, 2016 – Adherence Compliance, the global leader in cannabis regulatory compliance software and services, today announced its latest program offering to help mitigate risk for commercial insurers and reinsurers in the cannabis industry. The Cannabis Insurance Program, the only automated solution of its kind available, allows companies to set industry-specific […]
Believe It or Not, Marijuana Inventory Is Insurable – For Now
I recently chaired a webinar about marijuana and insurance issues, and I have already been roped into doing another one. I am well aware of how cannabis and insurance are a legally charged combination, and I expect to see an increase of cannabis insurance cases very soon. A federal court in Colorado just came down with an important cannabis insurance […]
Marijuana in Wonderland: Making Sense of a Judge’s Anti-Cannabis Ruling
By Barry Gainsburg “When I use a word,’ Humpty Dumpty said in rather a scornful tone, ‘it means just what I choose it to mean — neither more nor less.’ ” — Lewis Carroll, from Through the Looking Glass Last week, the U.S. District Court in Northern California declined to declare the federal classification of marijuana […]
The Apple Doesn’t Fall Far From the Tree: Cannasure Insurance Services
After graduating from the University of Dayton, Patrick McManamon went to work for a national investment business before joining his father and the family insurance business, McManamon Insurance, based in Cleveland, Ohio in 2002 as an account executive. By 2004, Patrick was promoted to President and continued his preparation to eventually take over the operation […]
