American Association of Insurance Management Consultants

How can Cannabis Claims be Covered and Adjusted?

Member News

How can Cannabis Claims be Covered and Adjusted?

Marijuana is illegal at the federal level, and insurance policies do not cover illegal activities. This article will discuss how some states have amended personal and commercial policies to overcome these issues. It cannot enumerate all the perils faced by insureds in the cannabis industry, but it will help underwriters and agents understand their insureds’ risks to provide better coverage. The article will also help claims adjusters communicate with underwriters to properly protect insureds from uncovered losses—and to protect insurers from legal issues.