Earning essential status gave the industry a boost. But being essential will not shelter legitimate marijuana enterprise from the storm clouds of change where insurance is concerned.
Insurance Journal
- Vaping companies will face insurance challenges. Product liability for vaping is about to become more stringent as a result of COVID. Expect an increase of exclusions to product liability coverage across legal weed.
- Reinsurance will be harder to get. Carriers and reinsurers will almost certainly ask that the virus be addressed in policy forms.
- Just as coronavirus assistance through the CARES Act has never been available to the cannabis industry, business interruption coverage was not widely available to, or purchased by, most cannabis companies.
Quick Hits
- How is coronavirus impacting the selling, buying and consumption of cannabis? The answer to your questions are right here.
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