Industry Issues | Surplus Lines Reform

California Insurance Commissioner Announces First Filing Approval to Write Cannabis Business Insurance

Emerging Risk - Cannabis/Marijuana Business

California Insurance Commissioner Dave Jones announced the approval of the first filing by an admitted commercial insurance company to write cannabis business insurance.

Pursuant to the approval, the insurer can begin writing policies and offering coverage for cannabis business owners. As such, cannabis businesses licensed by California can now purchase commercial insurance coverage from at least one admitted commercial insurer.

"This is the first of what I hope will be many commercial carriers filing insurance products to fill insurance coverage gaps for the cannabis industry," said Insurance Commissioner Dave Jones. "Consumers who visit cannabis businesses, workers who work there, businesses who sell products to or rent property to cannabis businesses, and the investors, owners and operators of cannabis businesses all should have insurance coverage available to help them recover when something goes wrong just as any other legalized business does." - CDI Press Release

Golden Bear to offer marijuana coverage in California

Additional Information
CDI Cannabis and Insurance Initiative
CDI Cannabis Insurance List - Updated 10/27/2017 

PCI Compilation of Related Regulatory, Legislative and Market Information (PCI surplus lines industry web page)