Tuesday, August 06, 2019

Insurance going to Pot?

Three years ago we brought you the story of Derek Peterson, "the chief executive officer of Terra Tech, a publicly traded pot company based in Irvine, CA." Even though he didn't indulge in his product, Mr P still found obtaining life insurance quite challenging.

But that's nothing compared to retailers who can't find Workers' Comp or even just a Business Owners Policy:

While not (yet) law, the new regulation "would help businesses operating in the growing cannabis sector to obtain insurance products."

And why, exactly, is this necessary?

"Without this legislation, insurers will understandably be reticent to insure businesses operating in the cannabis sector."

Good times ahead (perhaps).
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