Cannabis-Related Activities and Property Insurance

Summary

This practice note will address property insurance considerations associated with the cultivation and storage of hemp, cannabis, and products derived from it. Policy coverage, exclusions, related limitations, and conditions of coverage for the raw material, derivative products, and resulting losses associated with these cannabis-related activities are also addressed in the discussion. Those elements of an insurance policy for cannabis, much like any other object of insurance, together define the scope of coverage for the product and those with insurable interests in it.