Attorney Articles
“California enacts legal protections for cannabis insurance providers”
October 3, 2022 - Thomson Reuters Westlaw Today
Ian A. Stewart (Partner-Los Angeles) authored a Wilson Elser insight piece titled “California enacts legal protections for cannabis insurance providers” which appeared in Westlaw Today’s practitioner insights commentaries on October 3, 2022. The article explains how a new cannabis-related California law will likely lead to more commercial insurance options for marijuana businesses. While California law has allowed insurance companies to provide services to state-licensed cannabis businesses since 2018, the new law intends to remove lingering doubt on the topic and encourage more insurance service providers to enter the market. However, Ian emphasizes that “any decision to provide insurance-related services to the cannabis industry must be based on a well-informed understanding of the legal risks and the very challenging operating environment for state-licensed cannabis companies.”