Cannasure Blog

Reposted from MJBizDaily – view original article Fires and explosions have occurred in cannabis grow houses and processing operations for decades. Most of these facilities were operating illegally, and they weren’t built or maintained to common electrical and fire safety standards. Unfortunately, the lessons learned from these investigations were not well-publicized, and potential solutions were […]

We mourn the loss of a true industry pioneer and dear friend, Steve Fox. Steve was one of the first political professionals to enter the marijuana advocacy space. At a time when cannabis policy was just a blip on the political radar and most savvy up-and-comers were unwilling to dip a toe into the space, […]

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! Download the Excess Property Coverage Sheet Cyber With the cannabis industry grabbing daily headlines, […]

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 […]