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Business Insurance is launching a conference to examine the insurance needs of the rapidly expanding cannabis and cannabinoid industry.
As more and more states allow the legal sale marijuana for medical and recreational purposes, the cannabis industry is becoming big business with a need for the full range of financial services, including insurance.
While the insurance industry has been wary of providing coverage for the cannabis sector in the past — in part due to the continued conflict between federal and state law on the legality of marijuana production and sales — more insurers, brokers and agents are participating in the market.
The Business Insurance Cannabis & Hemp conference will be held in New York in October and will examine everything from property/casualty coverages for cannabis manufacturers and distributers, to directors and officers liability coverage for any company connected with the sector, to implications for the workers compensation market.
To learn more about the conference, click here.
Conflicting state and federal laws and regulations concerning the treatment of cannabis can present risk managers involved in the industry with myriad challenges, according to a report from the Risk & Insurance Management Society Inc. on Thursday.