In February 2017, Galen Hayes and his team were asked to meet with California attorneys who wish to better serve the cannabis community. The conference was held in San Francisco, and was also attended via teleconference by lawyers in Los Angeles.
These legal firms sought to better understand the unique challenges of cannabis-related industries. In particular, they wanted to discuss various types of insurance coverage and the protection those policies offer to both medical and recreational marijuana operations.
Among the questions asked was whether marijuana businesses may obtain insurance coverage for governmental action. At this time, this coverage is not available to this business sector, but as the legality of medical and recreational marijuana continues to spread across the country, it is believed that this coverage will become available.
There is still quite a bit of risk involved with marijuana operations, as this industry is still not legal at the federal level. It is important that cannabis industry owners and operators retain the counsel of competent attorneys, as well as proper insurance coverage through the most knowledgable brokers in the industry, Hayes Insurance.