Insurance Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

Pennsylvania Governor Signs Cannabis Banking and Insurance Protections into Law

It is official. On July 11, 2022, Pennsylvania Governor Tom Wolf signed House Bill 331 into law, ostensibly making the Commonwealth safer for financial institutions and insurers that want to do business with the state’s medical marijuana industry. In relevant part, the new…

Mixing Cannabis and Psychedelics Business

by Griffin Thorne, Attorney @ Harris Bricken Many cannabis companies are thinking about creative ways to pivot into the developing psychedelics market. One of the questions I hear most frequently hear is whether this is a good idea. It’s one…

Ten “Must Haves” for Cannabis Businesses in 2022

By Hilary Bricken, Principal at Harris Bricken I started as a lawyer in the cannabis industry in 2010. Twelve years in there has been immense progress and maturation at the business level for cannabis licensees. This post is dedicated to…

Suing Your Cannabis Insurer? Choose Your Battleground Wisely

by John McDonald, Attorney at Harris Bricken If you are suing your cannabis insurer, read this first. The venue in which you plan to file is of the utmost importance. The status of marijuana as a schedule I narcotic has…

Cannabis Businesses and New Jersey Real Estate: The Landlord’s Perspective – Part Three: Terminations and Insurance

December 23, 2021
Carmen Andrade
Banking, Finance & Real Estate, Insurance
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by  Carmen Andrade In the last section of the series aimed to help landlords navigate the evolving cannabis landscape, this article focuses on terminations and insurance issues. Lease Terminations When negotiating a termination provision in a lease, both landlords and tenants will want to include specific parameters…

U.S. cannabis insurers get ready to roll as federal legalization nears

NEW YORK, Aug 19 (Reuters) - Insurers are quietly gearing up for a potential ten-fold increase in sales to the booming $17.6 billion-a-year cannabis industry as Congress inches closer to legalizing pot at the federal level. While 36 U.S. states…

The Unusual Bedfellows of President-Elect Biden, Cannabis and the Insurance Market

By: Mikaela Whitman and Jacquelyn Mohr In recent years, the cannabis industry has experienced unprecedented growth and transformation. In 2017, the cannabis industry generated nearly $9 billion in annual sales and by 2022, some project that number will increase to an…

5 problems hemp farmers face this year

Bottlenecks abound on the production end—and that’s not even counting the fundamentals of weather and hemp farming competence. Five years ago, farmers were racing to get in on the hemp craze with visions of $100,000 an acre dancing in their…

Medical and Recreational Marijuana: An Overview of the Various Issues Involved in Starting and Operating Marijuana Dispensaries Part 4

This article is the fourth part of a six-part series discussing the legal issues, operational challenges, and regulatory hurdles that marijuana-related businesses (MRBs) frequently encounter. Part 1 discussed the various fire, health, and safety risks that MRBs encounter while growing…

Cannabis And Coronavirus: What Your Business Should Do Right Now

By Vince Sliwoski, Attorney at Harris Bricken Add “global pandemic” to the list of challenges faced by the sputtering cannabis industry. The coronavirus COVID-19 is tearing across the U.S. economy. Businesses everywhere are making very difficult decisions. In many cases,…

Anatomy of a Cannabis Insurance Policy: Exclusions

February 14, 2020
AggregatedNews
Insurance
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By Jonathan Bench, Attorney @ Harris Bricken Previously I wrote about insurance generally (see here) and products liability insurance specifically (see here). Today I want to look at some policy exclusions to point out potentially problematic terms that you may…

5 Key Considerations When Starting Your Cannabusiness

The estimate is staggering: $30,000,000,000. That’s a lot of zeros and a forecast of annual legal cannabis sales by 2025—this as more and more states legalize marijuana for medical or recreational use. No question, the cannabis business is booming, which…

Anatomy of a Cannabis Insurance Policy, Part 1: The Basics

By Jonathan Bench, Attorney @ Harris Bricken Insurance in the cannabis industry is big business, and business owners need to know what policies are available and what those policies cover. Why? Because in insurance policies, like all other business contracts…

Cannabis Banking and 3rd Party Support…On Board or Not?

By Sundie Seefried Why do financial institutions fail to serve the cannabis industry? You’ve certainly heard that question enough. It's probably a little more complex than many realize. There are regulations, laws, complexity, reputation, etc. to consider. However, it is not just…

Insurance Loss Control Issues for the Cannabis Industry

December 5, 2016
Thomas Smith
Banking, Finance & Real Estate, Best Practices, Compliance and Regulations
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The International Risk Management Institute defines loss control as "a risk management technique that seeks to reduce the possibility that a loss will occur and/or reduce the severity of those that do occur. Also known as safety or risk control. Driver…

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