Market Insights

Cannabis businesses face unique risks and challenges, and insurance slowly gaining its footing on how to properly insure this budding industry.
California Insurance Commissioner Ricardo Lara recently announced that the Department of Insurance will use its discretion in deciding whether to issue licenses to individuals that have cannabis-related convictions.
In support of Proposition 64, the Adult Use of Marijuana Act, which was approved by California voters in 2016, the announcement will clear obstacles for individuals, whose past convictions are eligible to be dismissed or reduced under current California law, to pursue insurance agent, broker, or similar licenses.
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