Now that 44 states have permitted the use of cannabis to some extent, Congress is taking action to overcome some of the obstacles mentioned in previous post, "Five Insurance Considerations for Cannabis-Related Businesses". Bills have been introduced in Congress which, if passed, would have a substantial favorable impact on the cannabis industry.
Even though the cannabis industry has grown rapidly since many states have authorized the sale and use of cannabis to some extent, traditional insurers have been less willing to enter the industry because marijuana remains illegal under federal law as a Schedule 1 drug.
On May 7, 2021, a cyber-attack shut down Colonial Pipeline, the largest fuel pipeline network in the United States, for multiple days. The hackers requested nearly $5 million in ransom after the attack.
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Lathrop GPM is one of the largest law firms in the United States representing policyholders, providing policyholders with the necessary guidance and legal counsel to handle everything from negotiating coverage and managing risk to litigating insurance disputes and recovery. The Road to Insurance Recovery blog is dedicated to helping readers better understand and manage the complexities of the modern business insurance policy.