Takeaways from Our Conversation on State Cannabis Regulations and Their Impact on Insurance

Ever heard of a gram shop law? It’s a thing, and if you’re an insurance broker in Michigan focused on the cannabis space, then you and your clients are well aware of the term.

The law, signed by Gov. Gretchen Whitmer over the summer, is similar to long-established dram shop laws for businesses that serve or sell liquor.

The law certainly stands out, but it’s just one of many interesting regulations in states around the country that make life quite interesting for insurance professionals and their cannabis clients.

n our latest Insuring Cannabis podcast, we spoke to Erich Schutz and Lee Woodruff with Jencap Specialty Insurance Services, and Chris Martin with Veracity Insurance Solutions, about some far-out state regulations and how they impact insurance professionals.

Schutz, who described “a potpourri landscape of regulations” in legal states, said some states have very few regulations and those they have may be considered fairly liberal, while others have regulatory structures that some may feel are quite burdensome.

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