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The expansion of marijuana's legal status nationwide has positioned the cannabis industry for massive growth and fueled a surge in cannabis-related business opportunities. But the division between state and federal status makes it difficult for businesses to receive comprehensive, affordable coverage and often leaves policyholders with restrictive plans.
Marijuana-related businesses (MRBs) and their vendors face many insurance-related risks and obstacles. These risks include theft, general liability and product liability. Standard general liability plans address these risks for non-MRB businesses, but most insurers hesitate to provide such coverage for MRBs due to the legal uncertainties.
Listen as our authoritative panel discusses potentially insurable risks faced by MRBs, reviews types of coverage, typical exclusions and associated legal issues, assesses the state of the cannabis insurance market and state regulatory regimes, and provides practical guidance on obtaining insurance and addressing claims-related matters.
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