Cannasure Blog

Building off of the previously announced Commercial Auto & Outdoor (Parametric) Crop, we’re excited to announce the launch of Excess Property, Cyber, and Workers’ Compensation. Excess Property We’ve expanded our Cannabis & Hemp Package to now include $16M in excess property! Cyber With the cannabis industry grabbing daily headlines, crossing state and international borders, and […]

We are pleased to announce two new lines of coverage now available from Cannasure: Parametric Outdoor Crop Insurance and Commercial Auto. With these additions, we aim to continue serving the cannabis and hemp industry while making insurance coverage available to more business owners. From increasingly harsh winters to excessive dry seasons that can set the […]

California Marijuana Taxes Increased on New Year’s Day Effective January 1, 2020, California’s excise and cultivation taxes went up. The increase is based on an analysis of statewide market data that was used to determine the average markup rate between the wholesale cost and the retail selling price. The markup increased from 60% to 80%. […]

U.S. Senator Introduces Decriminalization Bill Congress will be reviewing new legislation that could have serious implications on cannabis businesses across the country. U.S. House Judiciary Chair Jerrold Nadler and U.S. Senator Kamala Harris introduced a bill that would decriminalize marijuana and impose a 5% tax on all recreational marijuana sales. Proponents of cannabis reform believe […]

California Senate Approves Cannabis Banking Law A bill that would create state-chartered banks that would serve the cannabis industry passed the Senate in California. This would allow cannabis businesses to use special checks to pay for rent, fees and taxes. The measure is awaiting approval from the Assembly and the Governor. North Dakota Eliminates Jail […]

Though cannabis is legal in some form in dozens of states, many risk-adverse banks and financial institutions choose not to do business with those in the industry because marijuana remains illegal at the national level. As a result, many cannabis-related businesses operate on a cash-only basis, not accepting credit cards and paying their taxes in […]

Medical Marijuana Dispensaries open in Ohio On January 16, 2019, medical marijuana dispensaries started opening in Ohio with more slated to open in the near future. The program was adopted over two years ago and this marks the first time patients can legally obtain cannabis in the state. Bill to Regulate and Tax Marijuana for […]

Cannasure was recently featured in Intelligent Insurer’s article, “Insurance for Legal Marijuana Hindered by Limited Policies, Finds AM Best.” The AM Best report breaks down the current state of marijuana insurance and the challenges that both insurers and insured in this market face. “In 2017, annual marijuana sales in the US were valued at $8.1 […]

About every five years or so, Congress passes a new Farm Bill that shapes the agricultural industry. This particular Bill has a huge impact on how and what types of crops are grown. On December 20, 2018, President Trump signed the new $867-billion Farm Bill into legislation. Among many other laws and regulations, the Bill […]

The Northern Mariana Islands Legalize and Regulate Marijuana The Commonwealth of the Northern Mariana Islands made history when they legalized marijuana for both medical and recreational use. Governor Ralph Torres signed the bill, which includes home cultivation, on-site consumption, micro-producers and more, into law on September 21, 2018, making it the first time that a […]