Jun 5, 2018
CannaBOP program approved to provide insurance for California cannabis businesses
California Insurance Commissioner Dave Jones announced Monday he has approved a program to provide property and liability coverage for marijuana dispensaries, storage facilities, processors, manufacturers, distributors and other cannabis-related businesses operating in California.
“Cannabis businesses need insurance coverage to help them recover when something goes wrong just as any other legalized business does,” Jones said in a statement. “This first-of-its-kind Cannabis Business Owners Policy, or CannaBOP program, will make it easier for more insurers to enter the market and fill coverage gaps for cannabis businesses.”