The Insurance Services Office, Inc. (ISO), which develops standard insurance policy forms for use by insurers, recently released its first cannabis-related endorsements (Cannabis Endorsements) to the businessowner policy form. This new release provides five cannabis exclusion endorsements; two of the endorsements change property coverage for cannabis, and the other three endorsements change liability coverage for
Coverage for Cannabis? How Cannabis’s Legal Limbo Affects Property Insurance Policies
By Alex Purvis, Whitt Steineker & D. Butler Sparks on
Posted in Cannabis Insurance, Policy Exclusion, Property Insurance
A recent federal court of appeals’ decision raises interesting questions for all policyholders, particularly commercial and residential landlords with tenants that grow, possess, and/or distribute cannabis, even where it is legal to do so under state law.
In K.V.G. Properties, Inc. v. Westfield Ins. Co., decided by the United States Court of Appeals for…