Tag Archives: insurance

California Cannabis Surety Bond Program Approved by Insurance Commissioner

California Cannabis Surety Bond Program Approved by Insurance Commissioner

California Cannabis Surety Bond Program Approved by Insurance Commissioner

California Insurance Commissioner Dave Jones has been on a mission to ensure state-legal cannabis businesses have commercial insurance coverage and with his announcement of the first California cannabis surety bond program on Feb. 21, 2018, he continues to make progress.

CDI Insurance Commissioner Surety Bond

First Surety Bond Program for Cannabis Industry Approved by Insurance Commissioner

SACRAMENTO, Calif., Feb. 21, 2018 /Weed Wire/ — Insurance Commissioner Dave Jones announced today he has approved the first surety bond program for the cannabis industry in the State of California. Continental Heritage Insurance Company is the first insurer in the state to be approved to offer surety bonds for the cannabis industry.

Cannasure Insurance Services

Cannasure Launches New Comprehensive Insurance Program for the Cannabis Industry

CLEVELAND, OHIO, Jan. 30, 2018 /Weed Wire/ — Cannasure Insurance Services (Cannasure), the premier cannabis insurance MGA and wholesale broker, announced today it will launch a comprehensive coverage program to support the cannabis industry.

California Approves Commercial Insurer's Offering of Cannabis Business Insurance

California Approves Commercial Insurer’s Offering of Cannabis Business Insurance

It looks like the California Insurance Commissioner has taken a pivotal step for the state’s cannabis industry. On Nov. 2, 2017, Dave Jones approved a commercial insurer’s offering of cannabis business insurance for the first time.

First Commercial Insurer to File Cannabis Business Insurance is Approved by Insurance Commissioner

Cannabis businesses licensed by the State of California may now purchase commercial insurance coverage from an admitted commercial insurance company. Insurance Commissioner Dave Jones has approved the filing of the first admitted commercial insurance company to file cannabis business insurance, so that the insurer can begin writing policies and offering coverage for cannabis business owners.

This Is Why California Wants Commercial Carriers to Offer Cannabis Coverage

This Is Why California Wants Commercial Carriers to Offer Cannabis Coverage

With last week’s devastating wildfires in Northern California and the state’s impending rollout of recreational cannabis on Jan. 1, 2018, California wants legal cannabis businesses to have commercial cannabis coverage and California Insurance Commissioner Dave Jones is on a mission to make it happen.

Fundraiser for Burned Marijuana Farms Shut Down

Fundraiser for Burned Marijuana Farms Shut Down

The wildfires scorching Northern California have burned down at least 34 marijuana farms, just as the state prepares to launch a legal recreational marijuana industry. Now an attempt to crowdfund money online for farmers in Sonoma and Mendocino counties has been shut down by payment provider WePay.

CDI Insurance Commissioner Surety Bond

Insurance Commissioner Holds Public Hearing on Insurance Gaps for Cannabis Industry

LOS ANGELES, Calif., Oct. 19, 2017 /Weed Wire/ — Insurance Commissioner Dave Jones held a public hearing today to identify insurance gaps faced by the cannabis industry. Cannabis businesses and insurance industry representatives testified about the limited availability of insurance for the cannabis businesses.

California Releases Cannabis Insurance List as Wildfires Continue to Rage

California Releases Cannabis Insurance List as Wildfires Continue to Rage

Wildfires are continuing to lay waste to Northern California. Beyond the loss of life and land, some of those that have survived are waiting to sift through the ashes of their cannabis businesses knowing they don’t have cannabis insurance to recoup their losses.

CannaConsumer Magazine

CannaConsumer Magazine June / July 2017 Issue Now Available!

ATLANTA, GA, July 10, 2017 /Weed Wire/ — CannaConsumer Magazine announced today that it has published its June / July 2017 issue of the CannaConsumer Magazine. In this issue, learn about Paul Himmelstein and his passion for providing many types of insurance for cannabis consumers.

California's Insurance Department Talks Cannabis Protections With Stakeholders

California’s Insurance Department Talks Cannabis Protections With Stakeholders

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.

Insurance Department Connects Stakeholders to Discuss Cannabis Regulations and Insurance Issues

SACRAMENTO, Calif., May 22, 2017 /Weed Wire/ — Today Insurance Commissioner Dave Jones convened 63 insurance-related stakeholders to make sure they have time to comment on cannabis-related regulations with insurance provisions currently under consideration by other state agencies.

New York Reminds Insurers to Cover Visits Resulting in MMJ Certification

New York Reminds Insurers to Cover Visits Resulting in MMJ Certification

On April 12, 2017, the NYSDFS announced that it has reminded state-authorized health insurers that they must provide coverage for office visits that fall under the insured’s policy of covered services, including those resulting in patients receiving medical marijuana certifications.

DFS

DFS Reminds Health Insurers of Their Obligation to Cover Office Visits That Also Include Medical Marijuana Certification Among Other Healthcare Services

ALBANY, N.Y., April 12, 2017 /Weed Wire/ — Department of Financial Services is reminding all insurers authorized to write insurance in New York State that they must provide coverage for office visits for covered services, including those that may result in a medical marijuana certification, as long as the visit was not solely for the purpose of the certification.

Don’t Let the Devil Disrupt the Landlord/Tenant Relationship

Don’t Let the Devil Disrupt the Landlord/Tenant Relationship

The marijuana industry is proving to be profitable for landlords, with businesses willing to pay premium rents. Conversely, it is also complex and has many details from a risk management standpoint.

Federal marijuana ban deters insurers as U.S. states legalize

Federal Marijuana Ban Deters Insurers as U.S. States Legalize

The legal use of marijuana could increase substantially by the end of the year as several U.S. states, including California, vote on its use for recreational or medical purposes. This could open new markets for insurance coverage in areas including property and casualty and health.

arcview market

Marijuana Entrepreneurs Pitch Hundreds of Private Investors In NYC Sep 12-13

BROOKLYN, N.Y., Aug. 30, 2016 /Weed Wire/ — More than 200 high net worth investors from around the world eager to invest in the fastest growing industry in America will gather at the New York Marriott Brooklyn Bridge Hotel for a two day Shark Tank-like pitch forum on Monday, September 12th and Tuesday, September 13th, hosted exclusively for members of The Arcview Investor Network.

How to Manage Risk in Cannabis: Make Sure Good Things Happen to Good People

How to Manage Risk in Cannabis: Make Sure Good Things Happen to Good People

As business owners, managing risk is something we are all aware of, but it’s often pushed to the side, especially with new businesses, in the battle for cash flow and stability. We tell ourselves that we will work on risk once we are making money.

Owners and Insurance

Owners Can’t Be Too Careful When Insuring Marijuana Businesses

Business owners were hit with a surprise in 2015 when Lloyd’s of London—one of the largest insurers in the cannabis industry—announced it was backing away from the business. It cited regulatory uncertainty and the high risk nature of the business.

Lloyd's of London

Lloyd’s of London Takes Back Vote of Cannabis Confidence

On May 29, 2015, Marijuana Business Daily reported that it had viewed a memo from insurance behemoth Lloyd’s of London, wherein it directs its underwriters not to write or renew existing policies to cannabis-based companies until the plant is legal on the federal level.

Food

Food as Pharma?

On the surface, the recent High Times Cannabis Cup in Seattle appeared to be one big counter culture smoke fest for “Free the Weed!” enthusiasts. With reggae music pumping and Twitter ablaze with photos of cannabis dabbing Millennials blowing psychotropic smoke rings, there were clusters of grizzled gray beards and former hippies now eligible for AARP discounts.

Insurance

Insurance to Cover Medical Marijuana?

The Patient Protection and Affordable Care Act (ACA) has faced conservative opposition ever since the subject first cropped up. Despite that, it is in place and moving along quite nicely, at least for now. A similar amount of opposition has confronted the campaign for medical marijuana. Until recently, issues regarding the ACA and medical marijuana have remained separate, which is best for both; however, new reports have highlighted that issues of insurance and medical marijuana are intersecting.


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