Recreational marijuana sales begin in New Jersey on Thursday, making cannabis legally available for nonmedical purposes in the New York City and Philadelphia areas for the first time. Thirteen existing medical cannabis dispensaries in the Garden State were authorized earlier this month to serve all customers over the age of 21. According to state officials,… Continue reading Legal Sales of Recreational Marijuana in New Jersey Begin Today
Tag: marijuana insurance
Teen Vaping of Marijuana Is on the Rise, Survey Finds
Vaping remained popular among teens across the United States in 2019, according to a new report, and there were significant increases in vaping of marijuana by eighth, 10th and 12th graders. The annual report, Monitoring the Future, from the University of Michigan’s Institute for Social Research, found that while prescription opioid misuse, tobacco cigarettes smoking… Continue reading Teen Vaping of Marijuana Is on the Rise, Survey Finds
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
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
Car Crashes Are Up in States with Legalized Recreational Marijuana Use
Crashes are up by as much as 6 percent in Colorado, Nevada, Oregon and Washington, compared with neighboring states that haven’t legalized marijuana for recreational use, new research from the Insurance Institute for Highway Safety (IIHS) and the Highway Loss Data Institute (HLDI) shows. Last year, HLDI released a groundbreaking analysis of insurance losses in… Continue reading Car Crashes Are Up in States with Legalized Recreational Marijuana Use
NutraRisk Expands Cannabis Programs and Offers Exclusive Program for Recreational and Medicinal Operations
NutraRisk, a division of Worldwide Facilities, announces that it is expanding its offering to include an exclusive cannabis program, providing General and Product Liability for medicinal and recreational operations. NutraRisk can also place risks, in the eight states where recreational cannabis is legal, in another new and expanded Recreational Cannabis Program. In addition to these… Continue reading NutraRisk Expands Cannabis Programs and Offers Exclusive Program for Recreational and Medicinal Operations
Many Insurers Just Won’t Touch Covering Marijuana-Related Businesses
Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are taking a pass. Allianz SE, Hartford Financial Services Group Inc., and Nationwide Mutual Insurance Co. are among large insurers that aren’t covering… Continue reading Many Insurers Just Won’t Touch Covering Marijuana-Related Businesses