The legal cannabis industry in the U.S. is growing at an unprecedented rate and is projected to reach $73.6 billion by 2027. While federal law still classifies marijuana as a Schedule I drug, many states have legalized both medical and recreational marijuana. As state restrictions ease, new business opportunities continue…
In “Potential Insurance Coverage for Looted Cannabis Dispensaries in California and Beyond,” our colleague Benjamin D. Tievsky explains how affected businesses can look to their commercial property policies for potential property damage and business interruption coverage, and discusses coverage issues insurers may attempt to raise.
Cannabis is now fully legal in ten states plus the District of Columbia, and medical marijuana is legal in 23 states. Despite growing acceptance among states, cannabis remains illegal federally under the Controlled Substances Act of 1970 as a Schedule 1 substance, which has made oversight and regulation of the…
New Jersey’s greatest contribution to American rock ’n’ roll, Bruce Springsteen, was nearly relegated to obscurity by a marijuana bust involving his bandmates. Rock legend has it that one of The Boss’ early bands, the Castilles, was forced to break up when some of its members were caught with cannabis…
Like Bob Dylan, marijuana has gone from symbol of 1960s counter-culture to mainstream appeal. It is telling that Lloyd’s of London (which reportedly insures Mr. Dylan’s vocal chords) has also recently announced that that it will underwrite cannabis-related insurance in Canada, issuing policies to businesses who legally produce, distribute and…