Insurance Law Issues Impacting The Cannabis Industry

As New Jersey tackles complicated issues surrounding the cannabis industry and contemplates legislation legalizing recreational use of cannabis in New Jersey, this program seeks to shed light on emerging insurance coverage issues and considerations impacting cannabis businesses who encounter insurance-related risks.

Cannabis businesses face insurance risks and hurdles. Standard general liability policies and the like, struggle to address the unique risks facing cannabis-related businesses. Following a brief review of state and federal law, the panel will shed light on many of the different risks and coverage considerations that the cannabis industry needs to be aware of, such as: (i) how general liability, product liability, and other types of traditional policies may address these risks; (ii) new insurance forms and policy language; (iii) developments in related areas of law, and (iv) what is happening around the country involving coverage for cannabis-related businesses.

Cannabis law continues to heat up the legal landscape. At this up to the minute presentation, the panel is scheduled to address:

• Overview of New Jersey Legislation and the New Jersey Medical Marijuana Program
• Overview of Federal Law and other regulatory developments
• Risks faced by Industry Players
• Cannabis businesses (touching plant vs. indirectly involved in industry)
• Crop/inventory damage and other property damage
• Downstream business interruption.
• Product liability/recall.
• Theft
• Licensing issues
• Cyber Risk
• D&O exposure
• Environmental exposures
• Intellectual Property issues
• Personal lines issues.
• Homeowners – Increased risk profile.
• Auto – Higher claims frequency; causation issues; cannabis transport.
• Coverage and Related Considerations under “traditional” policies
• New ISO Forms or policy types targeted to cannabis industry
• Issues and Potential Issues within certain segments, such as Workers Compensation and EPL.
• Experiences with Coverage issues and needs in more mature markets such as California, and predictions as markets develop in NJ, NY, and surrounding areas.
• Actual and Hypothetical Claims Scenarios (examples drawn from case law, professional experience of panelists, and “current events”)
  • a. Wildfire or other natural disaster (property damage and business interruption)
  • b. Products liability – manufacturer, dispensary, etc. (tort liability)
  • c. Medical marijuana-related data breach (privacy liability, first party cyber coverage)
  • d. Employer / Employee rights when it comes to cannabis use (employment law)

For more information and to register, please see the event page.