First of its kind product addresses significant gap in insurance coverage and protection for cannabis growers, processors, and retail dispensaries. Greyling Insurance Brokerage & Risk Consulting (Greyling), a division of EPIC Insurance Brokers & Consultants (EPIC), today announced the first nationwide Site Pollution Liability Insurance Program for the emerging cannabis industry. Available in states where… Continue reading EPIC Launches Cannabis Site Pollution Liability Insurance Program
Tag: cannabis insurance
Medical Pot on Campus: Colleges Say No and Face Lawsuits
Colleges are becoming a battleground in the conflict between federal and state marijuana laws as students who use medical pot challenge decades-old campus drug policies. In states where medical marijuana is legal, students disciplined for using it are taking their schools to court. College officials argue they could lose federal funding for failing to follow… Continue reading Medical Pot on Campus: Colleges Say No and Face Lawsuits
House Passes Bill to Protect Banking for Marijuana Businesses
The House of Representatives passed legislation Wednesday to protect financial institutions that serve marijuana businesses in states where the substance is legal. Federally insured depository institutions are prohibited from offering financial services to such businesses because pot is illegal under federal law, forcing the companies to deal primarily in cash. Recreational cannabis use is legal… Continue reading House Passes Bill to Protect Banking for Marijuana Businesses
U.S. Growing Largest Crop of Marijuana for Research in Five Years
The U.S. government is growing the largest crop of research marijuana in five years, responding to interest in varieties with high levels of THC and CBD. The government is the only source of pot for nearly all research in the U.S., while it still considers it illegal and dangerous. Scientists have asked for weed that… Continue reading U.S. Growing Largest Crop of Marijuana for Research in Five Years
Governor Inks Bill Making Illinois 11th State to Legalize Recreational Marijuana
Recreational marijuana is now roughly six months away from being legal across Illinois. Gov. J.B. Pritzker signed the bill into law Tuesday. That means residents 21 and over will be able to buy marijuana at dispensaries as soon as Jan. 1. Illinois now joins 10 other states that have legalized recreational marijuana. In Vermont and… Continue reading Governor Inks Bill Making Illinois 11th State to Legalize Recreational Marijuana
L.A. Sues Unlicensed Dispensary for Selling Pesticide-Tainted Pot
An unlicensed marijuana dispensary sold cannabis sprayed with a dangerous pesticide, the city of Los Angeles said in a lawsuit Wednesday that’s part of a wide-ranging crackdown on illegal pot sales. Marijuana sold at Kush Club 20 contained paclobutrazol, a fungicide frequently used on golf course turf that the U.S. Environmental Protection Agency classifies as… Continue reading L.A. Sues Unlicensed Dispensary for Selling Pesticide-Tainted Pot
Drug Tests Show Marijuana Use at 14-Year High Among Workers
More American workers are testing positive for marijuana, a new report finds, as lawmakers in New Jersey and Illinois push to join nearly a dozen more states where recreational use of the drug is now legal. The number of workers and job applicants who tested positive for marijuana climbed 10% last year to 2.3%, according… Continue reading Drug Tests Show Marijuana Use at 14-Year High Among Workers
Opportunities for Insurers in Emerging U.S Cannabis Market: A.M. Best
The rapidly emerging U.S cannabis market offers significant opportunities for daring insurance carriers, according to A.M. Best, although conflict between the drug’s legal status at the state versus federal level has so far been a deterrent for many. The rating agency noted that there is demand for coverage from a broad array of industry participants,… Continue reading Opportunities for Insurers in Emerging U.S Cannabis Market: A.M. Best
New Jersey Lawmakers Reach Deal on Recreational Pot
Gov. Phil Murphy and fellow Democratic leaders in New Jersey announced Tuesday they have reached a deal to legalize recreational marijuana and expunge low-level pot offenses. Under the legislation, the state would collect an excise tax of $42 for an ounce of the drug, and cities and towns would receive tax revenue for hosting cultivators,… Continue reading New Jersey Lawmakers Reach Deal on Recreational Pot
New Push in Congress to Open Banks to Cannabis Industry
A bipartisan coalition of House lawmakers is pushing to give federally chartered banks and credit unions legal cover to serve the rapidly expanding cannabis industry. A majority of states allow either legalized medicinal or recreational cannabis use, but the drug remains illegal federally. That situation has created a legal limbo that poses severe financial and… Continue reading New Push in Congress to Open Banks to Cannabis Industry