Insurance Issues in the Cannabis Industry: Managing Risk Under State and Federal Law
Traditional and Modified Insurance Products; Key Exclusions and Issues; First-Party Property and Products Liability Coverage
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
- work Practice Area
Insurance
- event Date
Wednesday, July 8, 2020
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE course will identify types of potentially insurable risk faced by the cannabis industry, review types of coverage, typical exclusions and associated legal issues, assess the state of the cannabis insurance market and state regulatory regimes, and provide practical guidance on obtaining insurance and addressing claims-related issues.
Mr. Gilinsky is an experienced commercial litigator who applies his complex analysis skills with extensive experience in insurance coverage analysis and litigation and dispute resolution. His insurance coverage practice is focused on property insurance, commercial general liability insurance, directors' and officers' (D&O) insurance, captive insurance and reinsurance issues.
Ms. McCall focuses on helping early stage and mature companies, as well as family-owned and life-style businesses, succeed. As outside general counsel for many of her clients, she advises businesses on a wide variety of corporate and other legal matters. Ms. McCall also assists businesses in the cannabis industry develop the necessary infrastructure and organization to succeed while remaining in compliance with the complex legal and regulatory framework burdening the industry. Working with other members of the firm’s well-rounded cannabis industry team enables her to create a strategic and coordinated approach to not only business structuring, organizational, and regulatory matters but also IP, tax, estate planning, and business and criminal litigation issues.
Mr. Richardson began his career in the financial services industry in 2000 as an agency owner for a large national insurance company. He quickly realized that in order to objectively serve his clients and be fulfilled as a professional, a change to the independent side of the industry was needed. Integrity, passion and attention to detail are just a few of the strong values that have helped him shape his career and contribution to the firm.
Mr. Stewart is founder and co-chair of the Cannabis and Hemp Law practice at Wilson Elser, an AmLaw 200 law firm with 900 attorneys in 39 offices in the United States and London. He leads a national multi-disciplinary team of lawyers who serve all aspects of the cannabis and hemp industries, as well as financial institutions and insurance companies that service those industries.
The expansion of cannabis' legal status nationwide positions the cannabis industry for massive growth and is fueling a surge in cannabis-related business opportunities. But the division between state and federal status makes it difficult for businesses to receive comprehensive, affordable coverage and often leaves policyholders with restrictive plans.
Cannabis-related businesses and their vendors face many insurance-related risks and obstacles. These risks include theft, general liability, and product liability. Standard general liability plans address these risks for non-cannabis-related businesses, but most insurers hesitate to provide such coverage for cannabis-related businesses due to the legal uncertainties.
Listen as our authoritative panel discusses potentially insurable risks faced by cannabis-related businesses, and reviews types of coverage, typical exclusions, and associated legal issues. The panel will assess the state of the cannabis insurance market and state regulatory regimes, and provide practical guidance on obtaining insurance and addressing claims-related matters.
- Evolution of the cannabis industry and insurance products
- Key exclusions and issues for claims
- First-party property coverage litigation
- Products liability coverage litigation
- Miscellaneous cannabis-related insurance issues and practical considerations
The panel will review these and other high-priority issues:
- What are the unique risks in the cannabis industry and how are they potentially insurable?
- What types of coverage are available?
- What are the practical implications of federal and state law conflicts?
- What are the primary cannabis-related insurance coverage issues?
- What are the specific techniques counsel should employ when complying with public and private insurance requirements?
- What is the state of the cannabis insurance market and state insurance regulation for cannabis?
- What are the most cannabis-friendly jurisdictions?
- What are best practices for insurance procurement and claims-related issues?
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