On May 23, 2017, Dave Jones, Insurance Commissioner for the California Department of Insurance, brought together a group of 63 insurance-related stakeholders to discuss cannabis protections for state-legal cannabis businesses. Jones called for the meeting so that the stakeholders could hash out California’s new cannabis regulations as they apply to insurance provisions.
“As Insurance Commissioner, my goal is to make sure all Californians, including emerging cannabis businesses, have insurance protection,” Jones said in a press release. “The department has an important role to play as new industries emerge and the market adapts to meet the changing needs of all insurance consumers.”
Insurance coverage for state-legal cannabis businesses has been a challenge across the country. With that in mind, Jones is taking a proactive step to make sure the cannabis and insurance industries are on the same page.
“Cannabis businesses need to insure property, crops, vehicles and employees, just like any other business. They have the same insurance needs,” Jones added.