Insuring Cannabis Businesses – Issues and Problems

Illustrate a cannabis plant

Insuring cannabis businesses can be problematic. During the course of the past two years, I’ve written several new insurance continuing education (CE) online and webinar courses for my client, A.D. Banker & Company. One of the most recent webinars is Insuring Cannabis Risks. The course is the brainchild of inquiries submitted by individuals who attended … Read more

Prepare for Hurricane Season

In this week’s podcast episode, I talk about how insurance agents can help their policyholders prepare for hurricane season. Here are a few excerpts from the podcast, along with resources that appear at the end of the post: Did you know? Hurricane season begins on June 1 in the Atlantic and on May 15 in … Read more

COVID, the Insurance Industry, and our Crystal Balls

This week, I ventured down a slightly different path on my podcast. I talked about COVID and insurance, but more about what I believe we need to consider for the future rather than about what is happening today. Take a listen and then share what YOU think might happen: https://episodes.castos.com/5e6ccb9ab4cf97-55025247/TMoI-Episode-12-MR.mp3

How Homeowners Insurance Works When You’re Working from Home

The homeowners policy was designed to insure personal risks, not business risks. For this reason, virtually all coverage for business property and liability is explicitly excluded in the homeowners policy. Very limited property coverage is included for business personal property. The limit usually ranges between $1,000 and $2,500 if the business property is at your … Read more

Legal Liability and the Pandemic

People are talking about lawsuits these days, even more fervently than usual. Why? Because the big question is: What will happen if a person claims he or she contracted COVID-19 at a restaurant, or store, or at work … and then sues the business owner? Will the business’ insurance policy pay the claim? At the … Read more

Podcast Guest: Barb Gavitt Talks Insurance Licensing in a Pandemic

Barb Gavitt is Vice President of Product Development and Education at A.D. Banker & Company, one of the leading insurance pre-licensing and continuing education providers in the country. She is also the 2020 president of the Securities & Insurance Licensing Authority. Barb sat down with me recently to discuss the challenges many have been facing, … Read more

Update: Cannabis Regulation

In prepping for the SILA Foundation webinar I presented yesterday, I have two items to share with you since the last time I blogged on the topic of cannabis. Topic #1: Decriminalization A number of states have decriminalized marijuana. Contrary to what many people infer from the term “decriminalized,” it does NOT mean a person … Read more

Business Interruption Insurance and the Pandemic

In a number of states, legislation has been proposed to compel insurance companies to pay business interruption losses. Before I discuss the 2 biggest issues related to this pending legislation, let me recap exactly what business interruption insurance is. Business interruption (BI) coverage is a form of indirect PROPERTY insurance. This mean’s a covered peril … Read more

Cannabis in the Insurance Industry

Because the federal government classifies marijuana under Schedule I of the Controlled Substances Act, its cultivation, possession, use, and distribution is illegal under federal law. Not all the states agree with the federal government. 11 states have legalized the recreational use of marijuana, 35 states have legalized medical marijuana programs, and many of the remaining … Read more

May Webinar Dates

My May schedule of webinars for A.D. Banker is now available: May 05 | 11:30 a.m. | Driving into the Future: Uber, Drones, and Driverless Cars May 11 | 11:30 a.m. | Emerging Technologies & Market May 14 | 8:30 a.m. | Anti-Money Laundering 1-hour Refresher May 19 | 11:30 a.m. | Ethics in Action … Read more