in the Cannabis Industry

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Presentation transcript:

in the Cannabis Industry ROLLING STONED: A Coverage and Claims-Centric Review of Recent Lobbying, Legislative, and Legal Developments in the Cannabis Industry

PRESENTERS C. Benjamin Peoples, Partner, TT&H Joshua J. Bovender, Partner, TT&H Jeffery T. Criswell, Associate, TT&H Andrew Blasco, Executive Director, PAMCIG

OVERVIEW Current Laws Industry & Lobbying Underwriting & Coverage Claims

Goals Specific, Specific, Specific Writing Risks Based on the Market Completed by Cocktail Hour

Current Legal Obstacles & Issues Part I Current Legal Obstacles & Issues

Industry Goals, Lobbying Efforts, and Legislative Response PART II Industry Goals, Lobbying Efforts, and Legislative Response

History Involvement of Federal Government From West Coast to East Coast Development and Evolution of Programs

From “Seed to Sale” Growers & Cultivators Processors & Manufacturers Labs Transportation Dispensaries

Legislative & Lobbying Perspective Medical Benefits Taxation Black Market Reduction

Industry Direction Numbers of Patients Dollar Amount of Proceeds

Pennsylvania Specifics Program Elements Growers/Processors Dispensaries Labs Transportation

Pennsylvania Specifics (Cont’d) Program Estimates: Patient Potential Evolution

Pennsylvania Specifics (Cont’d) Pennsylvania Program Requirements Compliance Banking Insurance

Underwriting & Coverage Part III Underwriting & Coverage

Why Cover? Rapidly expanding market Limited competition (Higher premiums) Exposure to ancillary, non-marijuana, businesses Familiar risks and needs

Coverages Needed General Liability Products Liability Property Liability Workers’ Compensation Crop Liability Professional Liability Equipment Breakdown Business Interruption

Risks Requiring Coverage Growers Suppliers/Processors Dispensaries Caregivers Medical professionals Building owners Property managers

Considerations for Insurers State vs. federal law dichotomy Stigma Lack of access to banking Unchartered territory

Part IV Claims

General Concept New Risks Limited Actuarial Data Track Industry Development Old school song, new school beat

First Party Claims Property Business Interruption Equipment Breakdown

Third Party Claims General Liability Products Liability Crop Liability Professional Liability

The end COMMENTS OR QUESTIONS?