Canna Law Blog Post: Marijuana Inventory Is Insurable

Canna Law Blog Post: Marijuana Inventory Is Insurable

Robert McVay and I recently chaired a webinar about marijuana and insurance issues and we have already been roped into doing another one. So we know well how cannabis and insurance are a legally charged combination and we expect to see an increase of cannabis insurance cases very soon. A federal court in Colorado just came down with an important cannabis insurance ruling in the case of Green Earth Wellness Center, LLC v. Atain Speciality Insurance Company. The case involves a cannabis company that sued its insurance company for failing to pay on claims and for bad faith. It’s important to note that I’m not talking about a cannabis company seeking coverage on a general liability insurance policy for something like a slip and fall or for damage to grow lights. To the contrary, this case is a big deal because the Colorado Federal District Court chief judge, Marcia S. Krueger, ruled on a summary judgment motion that the actual inventory itself (i.e. the cannabis) is insurable under a general liability insurance policy.

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