ARTICLE · 14 MARCH 2018

Ten Important Steps A Cannabusiness Should Consider When Purchasing Insurance

Reed Smith

Explore more from Reed Smith

Purchasing insurance for a cannabusiness can feel like a daunting task, but it does not have to be one.

United StatesInsurance

Michael H. Sampson

Author LinkedIn connections

Purchasing insurance for a cannabusiness can feel like a daunting task, but it does not have to be one.

In addition to grappling with many of the same issues and questions that any business confronts when seeking insurance, a cannabusiness encounters certain additional, unique challenges due to the industry in which it operates. That is no reason to panic, however. And, it is certainly no reason to avoid purchasing insurance.

There are a number of steps that a cannabusiness – or, really, any business – can take to maximize the likelihood that the insurance-procurement process will be smooth and successful. In particular, when purchasing insurance, a cannabusiness should consider the following 10 steps:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

First Circuit Holds Related Claims Provision Bars Coverage For Later Discrimination Suit

United StatesInsurance

Agents Of Change: Amendments To Washington State Insurance Regulations Take Effect October 18

United StatesInsurance

Ballard Spahr LLP

Same Insurers, Different Results: Another Chapter In Acuity v. Kinsale And The Limits Of Co-Carrier Recovery Under Colorado Law

United StatesInsurance

Higgins, Hopkins, McLain & Roswell, LLC

Long-Term Care Insurance Coverage For Private Care Homes: Claims, Denials, And Appeals

United StatesInsurance

Pender & Coward

Delaware Superior Court Affirms Insurance Coverage Notwithstanding Prior Unreported Related Claim

United StatesInsurance

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Insurance
- Insurance Laws and Products

Related Comparative Guides

Comparative Guide

Insurance & Reinsurance

See more popular content from

Insurance

Privacy, Cyber & Data Strategy Advisory | NAIC Summer Meeting Sharpens Focus On AI, Data, And Technology Governance

The National Association of Insurance Commissioners intensified its regulatory focus on artificial intelligence governance, third-party data models, and cybersecurity oversight at its Summer 2026 meeting. Regulators are shifting from principles-based guidance to examination-ready supervisory tools, emphasizing that insurers remain accountable for the technologies and vendors they deploy. The meeting revealed how AI risk evaluation, vendor oversight frameworks, and privacy modernization efforts are convergin

United StatesInsurance

Alston & Bird LLP

AI Regulation In Insurance: A Crossroads

As artificial intelligence development accelerates and safety concerns mount, state insurance regulators are advancing comprehensive examination frameworks to govern AI use in the insurance industry. The National Association of Insurance Commissioners nears completion of its AI Risk Evaluation Supplement, which will establish standardized oversight procedures for insurers' AI governance practices across market conduct and financial examinations.

United StatesInsurance

McDermott Will & Schulte

Florida Appellate Court Finds Unaccrued And Premature Third-Party Bad-Faith Claim Filed In Violation Of Nonjoinder Statute Must Be Dismissed, Not Abated

A Florida appellate court found that an unaccrued and premature third-party bad-faith claim filed before a settlement or verdict against the insured is in direct violation of the nonjoinder statute ...

United StatesInsurance

Phelps Dunbar LLP

Cyber Insurance Decoded: What Your Policy Actually Covers, What It Excludes, And How To Maximize Your Protection

A data breach exposes thousands of customer records. An employee falls for a phishing email and wires $200,000 to a fraudulent account. A vendor’s compromised software infects your network.

United StatesInsurance

Ward and Smith, P.A

US NAIC Summer 2026 National Meeting Highlights: Natural Catastrophe Risk And Resilience (EX) Task Force

The Natural Catastrophe Risk and Resilience Task Force of the US National Association of Insurance Commissioners convened to address the escalating challenges of catastrophe risks facing insurance markets. Key discussions centered on developing standardized mitigation programs, expanding flood insurance awareness, and scaling resilience initiatives like FORTIFIED home designations. The meeting also examined the evolving property/casualty reinsurance market and explored new hemispheric partnerships to streng

United StatesInsurance

Is Your PFAS Coverage At Risk? An Ohio Federal Court Ruling Opens The Door To Broader Insurer Denials

A federal court in Ohio has ruled that an occupational disease exclusion in a commercial general liability policy bars coverage for PFAS-related personal injury claims brought by firefighters against a manufacturer of firefighting equipment. This landmark decision could significantly impact how insurers respond to PFAS product liability claims and may extend beyond occupational disease exclusions to other policy provisions using similarly broad language.

United StatesInsurance

Benesch, Friedlander, Coplan & Aronoff LLP

Contractual Liability Exclusion Must Be Assessed Against Each Cause Of Action Separately, Not Applied Wholesale Where Multiple Claims Are Pleaded In One Action

The Ninth Circuit Court of Appeals examined whether a directors' and officers' liability policy's contractual liability exclusion could bar coverage for an entire multi-count lawsuit, or whether each legally distinct cause of action—breach of contract, fraud, and quantum meruit—must be assessed separately against the exclusion's terms. The decision addresses the critical question of how insurers must apply policy exclusions when a single complaint pleads multiple claims arising from the same und

United StatesInsurance

Verisk/Eagleview Merger Derailed By FTC Challenge

On December 16, Verisk Analytics, a leading provider of data analytics and related services to the insurance industry, including rooftop aerial measurement products, announced that it was terminating its efforts to acquire EagleView Technologies, an aerial image provider whose product is utilized in rooftop aerial measurement products.

United StatesInsurance

Dickinson Wright PLLC

What Is An "Aggregate Limit" And Why Is It Important?

The aggregate limit applies to both indemnity payments and defense costs incurred on the insured's behalf.

United StatesInsurance

Phelps Dunbar LLP

Filling Out A Cyber Insurance Policy Application: Do Not Give Insurers A Material Misrepresentation Defense

As the risks associated with cyber liability continue to evolve, so do the insurance products that are theoretically meant to protect against those risks.

United StatesInsurance

Perkins Coie LLP