Insurance Issues in the Cannabis Industry: Managing Risk Under State and Federal Law

Traditional and Modified Insurance Products; Key Exclusions and Issues; First-Party Property and Products Liability Coverage

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, July 8, 2020

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will identify types of potentially insurable risk faced by the cannabis industry, review types of coverage, typical exclusions and associated legal issues, assess the state of the cannabis insurance market and state regulatory regimes, and provide practical guidance on obtaining insurance and addressing claims-related issues.

Description

The expansion of cannabis' legal status nationwide positions the cannabis industry for massive growth and is fueling a surge in cannabis-related business opportunities. But the division between state and federal status makes it difficult for businesses to receive comprehensive, affordable coverage and often leaves policyholders with restrictive plans.

Cannabis-related businesses and their vendors face many insurance-related risks and obstacles. These risks include theft, general liability, and product liability. Standard general liability plans address these risks for non-cannabis-related businesses, but most insurers hesitate to provide such coverage for cannabis-related businesses due to the legal uncertainties.

Listen as our authoritative panel discusses potentially insurable risks faced by cannabis-related businesses, and reviews types of coverage, typical exclusions, and associated legal issues. The panel will assess the state of the cannabis insurance market and state regulatory regimes, and provide practical guidance on obtaining insurance and addressing claims-related matters.

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Outline

  1. Evolution of the cannabis industry and insurance products
  2. Key exclusions and issues for claims
  3. First-party property coverage litigation
  4. Products liability coverage litigation
  5. Miscellaneous cannabis-related insurance issues and practical considerations

Benefits

The panel will review these and other high-priority issues:

  • What are the unique risks in the cannabis industry and how are they potentially insurable?
  • What types of coverage are available?
  • What are the practical implications of federal and state law conflicts?
  • What are the primary cannabis-related insurance coverage issues?
  • What are the specific techniques counsel should employ when complying with public and private insurance requirements?
  • What is the state of the cannabis insurance market and state insurance regulation for cannabis?
  • What are the most cannabis-friendly jurisdictions?
  • What are best practices for insurance procurement and claims-related issues?

Faculty

McCall, Kathryn
Kathryn L. McCall

Chief Legal Officer and General Counsel
Trustly

Ms. McCall focuses on helping early stage and mature companies, as well as family-owned and life-style businesses,...  |  Read More

Richardson, Brian
Brian C. Richardson

Founder
Foundations Insurance & Financial Services

Mr. Richardson began his career in the financial services industry in 2000 as an agency owner for a large national...  |  Read More

Stewart, Ian
Ian A. Stewart

Partner
Wilson Elser

Mr. Stewart is founder and co-chair of the Cannabis and Hemp Law practice at Wilson Elser, an AmLaw 200 law firm with...  |  Read More

Gilinsky, Marshall
Marshall Gilinsky

Shareholder
Anderson Kill

Mr. Gilinsky is an experienced commercial litigator who applies his complex analysis skills with extensive...  |  Read More

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