INSURANCE BLOG
Is Marijuana Legal in Your State?
Although marijuana remains illegal at the federal level, many states have decriminalized its use and possession. So, is marijuana legal in your state? Check out this helpful infographic provided by peoplefinders about the status of marijuana use and possession in...
Could Federal Decriminalization of Marijuana Happen Soon?
On April 19th Senat Minority Leader Charles Schumer (D-NY) announced he plans to introduce legislation that would decriminalize marijuana at the federal level. Assuming this bill gains bipartisan support (which seems to be growing in the House and Senate), could...
An End to the Cole Memo Era?
The Cole Memo In 2013, US Attorney James Cole issued a memorandum that instructed federal law enforcement and prosecutors to adopt a more "hands-off" approach to enforcement of marijuana laws in states that had legalized medical or recreational use. This shift in...
Cannabis Tax Booming in Nevada
Legal recreational marijuana sales began July 1, 2017 in Nevada. According to Nevada taxation officials, tax revenue from cannabis sales totaled nearly $3.7M. Total sales of marijuana was approximately $27M. That's a legitimate boom for Nevada and growing very close...
Nevada Marijuana Distribution Battle Headed to State Supreme Court
When Question 2 was approved by Nevada voters in 2016, it provided liquor distributors with an 18 month exclusive right to distribute marijuana from growers to retail stores. Recreational sales began on July 1, 2017 and within days the demand for cannabis had...
Banking for the Cannabis Industry
The legal cannabis industry continues to grow despite hurdles at the federal level. Banking for the cannabis industry, in particular, has been a challenge for many dispensaries, cultivators, and testing labs. Much of this difficulty stems from the 2013 Cole Memo and...
Legal Cannabis in Maine
On November 8, 2016, after a very close vote, marijuana was finally legalized in the state of Maine. That puts the state in a group of other 7 states and the District of Columbia which have made cannabis legal for recreational purposes, retail sale, and the taxation...
Nevada’s New Recreational Marijuana Law
With strong support in Clark and Washoe counties, question 2 passed in Nevada with a 54% margin. This means that recreational marijuana is now legal in Nevada, joining the ranks of Colorado, Oregon, Washington, Maine, Massachusetts, Alaska, and DC. As of January 1,...
Insurance for Cannabis Businesses
All businesses need insurance. It’s a customary method to protect themselves from many unforeseeable financial losses and, in some cases, it may be legally or contractually required. The problem for cannabis business owners is that there is still a lack of insurance...