2022 Membership

2023 Proposed Charges

The Cannabis Insurance (C) Working Group will:

1. Assess and periodically report on the status of federal legislation that would protect financial institutions from liability associated with providing services to cannabis businesses operating legally under state law.
2. Encourage admitted insurers to ensure coverage adequacy in states where cannabis, including hemp, is legal.
3. Provide insurance resources to stakeholders, and keep up with new products and innovative ideas that may shape insurance in this space. 
4. Explore potential sources of constraint to coverage limits and availability of cannabis insurance products within the admitted and non-admitted market. Explore the use of cannabis on P/C insurance lines of business. Use information gained to develop an appendix to the Understanding the Market for Cannabis Insurance 2.0 white paper.  

2022 Adopted Charges

The Cannabis Insurance (C) Working Group will:

1. Assess and periodically report on the status of federal legislation that would protect financial institutions from liability associated with providing services to cannabis businesses operating legally under state law.
2. Encourage admitted insurers to ensure coverage adequacy in states where cannabis, including hemp, is legal.
3. Provide insurance resources to stakeholders and keep up with new products and innovative ideas that may shape insurance in this space.
4. Develop an appendix to the Understanding the Market for Cannabis Insurance white paper providing updated information on cannabis-related insurance issues for adoption by the 2022 Summer National Meeting.
5. Collaborate with the Producer Licensing (D) Task Force to study, in states where cannabis is legalized for medical and/or recreational use, whether cannabis-related convictions are preventing individuals from being licensed as an agent or broker. 

NAIC Support Staff: Anne Obersteadt/Aaron Brandenburg