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Cannabis businesses face unique risks and challenges, and insurance slowly gaining its footing on how to properly insure this budding industry.

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Calif. DOI clears hurdles for potential licensees with cannabis convictions

Certain individuals with past cannabis convictions can now pursue insurance-related licenses under Commissioner Lara's directive.

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“When voters approved Proposition 64, they wanted to clear obstacles for those with prior convictions, and that is what my Department is doing,” said Commissioner Lara. “My Department is committed to creating opportunity for Californians while protecting consumers from fraud and abuse by agents and brokers.” “When voters approved Proposition 64, they wanted to clear obstacles for those with prior convictions, and that is what my Department is doing,” said Commissioner Lara in a release. “My Department is committed to creating opportunity for Californians while protecting consumers from fraud and abuse by agents and brokers.” (Photo: Shutterstock)

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.

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