American Green Rush: Business Opportunity & Risks

American Green Rush:

Business Opportunity & Risks

By Ancella Simoes

Executive Summary

The US national legal marijuana market grew by 74% in 2014, to $2.7 billion, which is $1.5 billion more than 20131. These are big numbers given that twenty three states and District of Columbia

allow medicinal usage of the drug and only a couple of states have legalized recreational marijuana

till date. The underground black market, of course, is estimated to be much larger, at about 10 to

120 billion dollars2.

With legalization of recreational marijuana in the states of Washington and Colorado, and with more

states set to follow suit, there exists a big opportunity for business in the spheres of setting up of

dispensaries, cultivation, transportation as well as insurance.

Insurance providers are venturing out in this business to provide coverage from general liability,

Medicine coverage, property coverage, business income and product liability. Coverage is

extended to dispensaries, cultivation facilities, landlords, physicians and ancillary businesses.

It is very rare that we see the birth and boom of a completely new industry and hence this opens

up a myriad of avenues in term of business.

For employers, concerns regarding Workers Compensation continue to exist, as it is almost

impossible to establish burden of proof about intoxication as well as connection between condition

and the injury. This is due to the fact that marijuana stays in the human system for up to 30 days

and therefore proving impairment is next to impossible.

How do we insure such businesses? What are the risks involved? How do we assess these risks?

These are some of the questions – the answers to which are evolving as experience and number of

units of exposure in the industry increases significantly over the next few years.

American Green Rush: Business Opportunity & Risks 1

1. Introduction

With legalizing Marijuana use in Unites States, albeit in a couple of states, there has arisen a new

business opportunity in managing and financing the supply chain of the product along with risk

evaluation and insurance.

Exhibit 1: U.S. Marijuana Laws

According to a market research report submitted by ArcView Group, the legal Marijuana market is

slated to grow about 700 percent in the next few years. This primarily would be because of new

states coming under the legal umbrella where Marijuana is concerned as well as increased demand

in existing state markets. For insurers, this means a specialized market with growing needs and

immense business opportunity to determine the basic coverages which can be provided along with

other specialized ones.


Currently, insurance companies specializing in legal marijuana insurance, such as Cannasure

Insurance Services, offer insurance services in sectors such as:

• Physicians

• Dispensaries

• Cultivation Facilities

• Infused Product Manufacturers

• Landlords

• Ancillary Businesses

Though this insurance provider caters primarily to medical marijuana usage, others like Cannarisk

cater to not only medical but also recreational marijuana. Policy limits differ from insurer to insurer

along with basic coverages and segments. Since this is hardly a regulated industry, standards are

non-existent and loss experience very low, which makes risk evaluation and ratings for marijuana businesses be undertaken on a case-wise basis.

Given that marijuana usage is both medicinal and recreational (where legal), this legislation impacts

not only Commercial Lines of insurance but also Personal Lines. For example, just as how insuring

the Cultivation area or property where marijuana is grown legally falls under the purview of

Commercial Property liability insurance; if an individual uses marijuana recreationally in his home,

would the insurer cover a loss due to damage from a fire caused by smoking under Homeowner’s

insurance policy?

The Wellness Medical Protection Group offers medical marijuana liability insurance via Lloyd’s of

London with a maximum coverage of up to $2 million per loss occurrence and up to $2 million

aggregate to commercial marijuana industry segments. Another example would Cannasure, which offers general liability up to $5 million and also insurer property losses in the event of occurrence

during transportation from grower to retailer.

Health Insurance on the other hand, will not cover any medical marijuana purchases until such time

that the Federal status is changed for it, and when there exists strong evidence that marijuana is a

safe and effective drug for medicinal use.

Life insurers charge higher rates akin to their higher ‘smoker’ rates to marijuana users who smoke

occasionally; those who are heavy users are sometimes declined coverage altogether.


2. Insuring the Green Industry

Why is Marijuana Insurance different?

This is an emerging market due to the nature of the product and this not only impacts Insurance,

but also the banking and financial sectors. With the legalization of recreational marijuana usage in

few states, the industry landscape is changing – small medical dispensaries are being gradually replaced with larger entities, at times with seed-to-crop capabilities requiring large and complex

insurance. Given this growing trend, needs have arisen to cater to crop insurance, product and

liability insurance, and cyber and comprehensive property insurance among others.

To make matters more complex, marijuana is still a Schedule I drug along with Heroin and LSD and

it is precisely because of its federal status that insurance companies have to determine how to deal

with marijuana usage and coverages such as workers compensation.

At a high level, marijuana insurance would have to cover the following:

• Crop Insurance: includes both indoor and outdoor varieties; usually insurance amount is

determined by valuing each of the plants through their life phases i.e. seed to harvested

plant. Theft, fire or other perils is covered under the total value in this case.

• Infused Product Manufacturers Coverage: includes manufacturing of cookies, lotions, candy, and other types of off shoots from this industry. This is peculiarly different as it

requires a combination of two types of insurance i.e. first is standard insurance to cover a

bakery, which bakes such candies, cookies and secondly a modified product liability

coverage to cover the inclusion of the added ingredient – marijuana – as an added

insurance to cover claims arising out of the quality of marijuana.

• Ancillary Products coverage: Insurance providers such as Cannasure provide

professional liability, property, products and workmen’s compensation to entities such as

Hydroponic stores, testing labs, smoking device manufacturers such as ecigs and

vaporizers among others. These broadly entail equipment coverage, special event liability

coverage for events ad conferences, etc.

• Business Income Insurance: the marijuana operation entities require coverage in the form of lost business cover to tide over cases when power loss, water loss could affect the

marijuana crop adversely, thereby reducing the crop output as a whole.

• Crime Coverage: since this is still illegal under Federal law, these businesses are forced to

transact in cash, and more so because large quantities of cash is involved, it makes these

businesses vulnerable to crime such as theft.


Given the special nature of this produce along with the specialized operations and supply chain, it

is necessary that insurance companies provide tailor-made hybrid policies to cover risks and tide over losses. Additionally, loss experience in this is relatively low due to recent changes in the legal

aspect of this industry, especially where Adult use is concerned.

Medicinal Marijuana

Medicinal usage of marijuana as a pain reliever mostly, is one of the most popular ways of

medicinal usage in USA. Medicinal usage is legal in 23 states and the District of Columbia, with the

most widespread usage being in the state of California.

Exhibit 2: Legal usage of cannabis in US – 2014 (Medicinal)

Source: ArcView Market research, 2nd Edition, 2014.

In USA, there are states where selling marijuana for medicinal purposes is legal via storefronts or

dispensaries. However, this does not necessarily mean that cultivation is also legal in the same

states, even though there are states where both - selling via dispensaries as well as cultivation - is

legal. Further, since Marijuana is still a Schedule I drug, doctors do not write prescriptions to

patients for medicinal marijuana use. Instead, they write recommendations which are then verified

by the pharmacists (with the doctor) before they are sold to the patient.


The US health insurance industry does not cover medicinal marijuana usage, primarily because of

its controlled substance status. Hence patients have to pay out-of-pocket, which can run into hundreds of dollars. Additionally, there are other complications which plague this new industry:

• Average prices for medicinal marijuana are hard to ascertain due to non-existence of

pricing information.

• Average dosage for medical marijuana patients are also hard to ascertain given that dosage

is based on medical requirements and so on.

o HIV and lupus patients, for example, would require higher and more frequent

dosages as compared to patients with other ailments.

• Lack of standard system or government subsidy to provide patients with medical marijuana

for those who cannot afford it.

• Scientific data to support the usage of marijuana is non-existent due to the federal law implications.

o Cancer patients have been known to use marijuana to relieve pain and to

strengthen appetite.

Recreational Marijuana

It’s only recently that marijuana for recreational use has been made legal and that too, in a few

states in USA. Insurance providers such as Orange Insurance and Cannasure cover medicinal

usage both as a recreational drug as well as a medicinal drug. These providers provide comprehensive insurance coverage to business entities having operations in the marijuana industry.

The Affordable Care Act prohibits insurance providers from rejecting insurance to marijuana users

as long as they are open about their usage and sign up for a qualified policy through exchanges at

the time of open enrolment. If not, then such candidates are underwritten as smokers with

corresponding rates applicable outside the open enrolment period.

With the passage of Initiative 502 (I-502) legislation in Washington, Amendment 64 in Colorado,

and Measure 91 in Oregon, any person who is 21 years or older can legally possess up to one

ounce of marijuana. However, one cannot buy marijuana in these ‘legal’ states and then transport it

out to other states. Even though possession in controlled limits is permissible by law, openly

smoking or consuming it is still illegal and there are numerous laws in place for this. This has given


rise to other establishments and product lines which has further pushed the boundaries of

insurance businesses.

• Lack of coffee shops and bars: Unlike places in Amsterdam, coffee bars and shops are

non-existent and publicly smoking marijuana in crowded places and streets is prohibited.

There has arisen private cannabis clubs which allows users to discreetly smoke marijuana

without breaking any laws.

• E-cigarette vaporizers: These have become popular since they allow marijuana users to

smoke discreetly without leaving any traces of smell et al. The manufacture and sale of

such products has increased tremendously and has given rise to new avenues for

insurance and other businesses.

• Drinkables4: These cannabis infused beverages offer another method of marijuana

consumption and are being sold in recreational marijuana shops in Washington and other

states where it’s legal. Infused with THC or liquid marijuana extract, these are popular among first time users. Establishments such as Dixie Elixirs in Colorado, Canna Cola in Las

Vegas and California’s The Venice Cookie Company which has multiple product lines in this

business.

Exhibit 3: Legal usage of cannabis in US – 2014 (Recreational)

Source: ArcView Market research, 3rd Edition, 2015.


Exhibit 4: Marijuana Sales Estimates

Source: Marijuana Business Factbook, 2014.

Insurance Considerations

Given the complex nature of the marijuana industry due to its nascent stage and legal status,

insurance companies have to consider many aspects of it. This is compounded by the fact that

marijuana sales and usage will increase tremendously given the changing legality of usage in USA.

• Workers Compensation: with the legal status of marijuana usage in some states, the

impact of its usage and workers compensation has come under the scanner. For

employers, in order to use the “intoxication defense” to dispute workers compensation

claims, it becomes imperative to identify that the worker was on alcohol or drugs at the

time of the injury at the workplace. However, this is not so easy given that consumption of

marijuana can remain in the system for hours and days, even though this might have been

consumed during off-work hours. Further, whether the worker was intoxicated or not, if an accident occurred due to slipping on wet floors or a falling object at a construction site, for

example, it will be difficult to use the intoxication defense. Coverage may apply even

though the worker was intoxicated and this could lead to the employer actually having to


pay compensation to the worker even though the worker was intoxicated and would have

already been terminated due to the intoxication policy in place.

• Health Insurance: the US Food and Drug Administration (FDA) has not conducted clinical

trials to determine the efficacy and safety of marijuana for its medicinal properties. Even

though research has indicated that marijuana does in fact have the ability t relive pain,

strengthen appetite, reduce ocular pressure and control nausea, it has not been cleared by

the FDA as a legal, medical treatment for such cases. As a result of this, patients

recommended to use marijuana medically have to do so by incurring high out-of-pocket

costs to obtain the same from dispensaries. To compound the problem, there are no clear

cut dosage rules for patients suffering from a variety of ailments medical marijuana is used

to treat. This is because ingredients or the marijuana strains differ from plant to plant and it

is difficult to determine if the drug usage actually reduces suffering if not increase the

probability of suffering from its adverse effects – respiratory problems. Further, marijuana usage impacts daily life such as lethargy, rise in accidents at the work place, absenteeism,

etc.

• Auto Liability: laws regarding marijuana usage and driving differ from state to state. The

legal limits permissible while driving have been established in some of the states but not in

all – some have zero-level tolerance for marijuana whereas some consider the use of

medical marijuana and have exceptions for this. Employers can be held liable for auto

accidents occurring during work hours stemming directly from marijuana usage. However, it

will depend on the facts of the case in order to determine if the auto liability insurance will

cover the injury to another driver or damage to a third party’s car.

• General Liability: Usually an employer’s general insurance liability coverage provides cover

to customers or third parties injured on the premises of the store. However, whether a person who is or not intoxicated due to marijuana causes injury at the work premises (to a

customer, for example), the injury will be covered under this general liability insurance.

• Employment Practices Liability: as a general practice, employers cannot discriminate

workers based on medical marijuana usage. However, the department of transportation

mandates that workers employed as drivers, pilots and other sensitive jobs should not be

hired if they are medical marijuana users. Additionally, if a candidate voluntarily discloses

her or his medical marijuana usage and the employer feels that this would grossly hamper

their safety in performing the work, then they can decline hiring such a candidate.

Therefore, in considerations for promotion, hiring, interviewing and other work related

decisions, employers should ascertain that their workers engaged in these job are aware of federal and state laws as applicable and do not discriminate based on personal preference


and ideology. Employment Practices Liability can cover wrongful termination,

discrimination, and other such claims by workers using medical marijuana.

It is a known fact that drug tests would show positive for workers consuming marijuana even

though it is consumed during off-work hours. Further, these traces remain in the human body for

days post consumption and this makes it even more difficult. Terminating a worker solely based on

a positive drug test – which are being made regular at work places recently - without considering

whether the worker was impaired while actually at work can be a cause for discriminatory

proceedings. Laws and regulations differ from state to state and it is mandated that employers

have a good faith based belief that workers were not impaired while on duty during work hours and

such intoxication or impairment is not because of medical or legal reasons.

Employers should work with insurance and legal advisors to manage their workforce and enforce

drug-free environment at the work premises. They should keep abreast with the latest

developments in legislation and other regulatory measures by state and federal entities governing

the use of marijuana.

Currently, in the US, insurance companies provide various types of insurance in the specialized

segment. Comprehensive insurance coverage for those in the marijuana industry:

General & Product Liability per State Requirements

Workers' Compensation specifically for Cannabis industry workers.

Business Property

Loss of Income

Money and Securities

Employee Dishonesty

Glass Coverage

Tenant Improvements

Computer Equipment


There also exists coverage for small, medium and enterprise level cultivation operations and these

include green houses and nurseries where marijuana is grown:

General Liability Coverage

Workers Compensation

Buildings/Equipment/Crops

Transit/Delivery Coverage

Theft/Fire/Vandalism

Wind/Hail/Falling Objects

Other Standard Perils

Finished Stock/Marijuana

Where medical Marijuana is concerned, the Insurance coverage provided includes that for

dispensaries, collectives, cooperatives and caregivers including:

General Liability Coverage

Property Insurance

Commercial Vehicle Coverage

Workers’ Compensation

Payroll Services

Insurance of marijuana does not end at just cultivation sites and dispensaries, transporting these

goods from the place of cultivation to dispensaries / other auxiliary premises for further processing

also poses risk, and thus insurance comes into the picture. In today’s industry, MMD/MMJ

Insurance has designed commercial auto coverages specifically for recreational and medical

cannabis businesses, which includes:

Limits $15/30 to $1 Million – CSL

In-Transit/Cargo


$100-$10,000 Product/Money

Hired and Non-Owned

Workers Compensation

Finished Stock/Marijuana

Employee Dishonesty

Due to the complications arising out of marijuana usage (whether medical or otherwise), there is a

need for insurance to cover legal defense costs, or arrest charges stemming from arrests made by

governmental agencies of individuals who are caught travelling with marijuana in their possession,

distribution or transportation, etc, given the delicate situation of this drug.

Industry Trends

Given the changing legal status of marijuana in US, companies are delving into innovative delivery

systems and product lines to cater to consumer needs. These would change the market

landscape and auxiliary businesses such as insurance dramatically. Some of these innovative

delivery systems are:

• Medicine Dispensing Systems (Medbox): these are patented systems allowing

dispense of sensitive drugs such as marijuana to assisted living facilities, pharmacies,

prisons, hospitals, etc which are legally allowed to dispense marijuana medication.

Transactions are verified via biometric scans and authorization cards. Turn-key consulting is

also provided to the marijuana industry.

• Product testing: this is a fast growing segment of marijuana market which involves

preparation, testing and marketing of marijuana infused-edibles. Currently, there is lack of

scientific data on standards for testing and these labs determine the best way to gauge the

amount and quality of THC (tetrahydrocannabinol) the products contain.


• Cultivation landscape: due to legalization of marijuana in many of the states, marijuana

cultivations have become larger, with seed-to-store capabilities thereby requiring the

support of many auxiliary services such as transportation, security, pest control, financing, etc. This will increase business opportunity in the segment considerably, especially since

legal marijuana industry is expected to grow 32% in the next year.

• Brand building: Brands such as Dixie Elixirs, Beverly Hills Cannabis Club, have made

headway in this industry with many more such as Marley Natural, Diego Pellicer making

their mark. These brands have multiple product lines, have large operations but due to the

Schedule I categorization of marijuana, brand management is a problem. It has been found

that companies in the “feeder” business i.e. vaporizers to fashionable containers or holders

for marijuana are many, whereas the closer one gets to the actual plant, the number of

companies and brands reduce considerably. This is all expected to change once

legalization moves across states in US.

• Marijuana accessories and packaging: Companies such as Rodawg specialize in

providing marijuana accessories such as metal tins for rolled joints, containers for storage,

etc. With the evolving nature of the marijuana industry, this business is expected to pick up.

Given the changing business landscape and laws for adult usage, this industry is expected to grow

considering that many more states are expected to legalize adult use of marijuana by 2016.

Regulations and laws can then be put in place based on the successes and failures of marijuana

usage in already legal states and this will help build infrastructure to support larger sales, and

manage a booming industry.


Exhibit 4: Cannabis sales by state - 2014


3. International Marijuana market

As per the United Nations Drug report, 2014, the cultivation and growth of marijuana is widespread

and cannot be ascertained accurately since it is cultivated in numerous households as well as in

large scale farms. The cultivation of marijuana or cannabis herb is undertaken in almost all areas of

the world; however, the cultivation of cannabis resin is confined to few areas in Middle East, North

Africa and South West Asia.

With recent policy changes in Uruguay, states like Washington, Colorado in United States to allow

production, distribution and consumption of marijuana legal, there are a myriad of rules and

regulations which are being evaluated to be put in place to manage this booming industry.

Uruguay signed in a law creating the world’s first nationalized market for the cultivation, distribution

and sale and consumption of Marijuana last year. Chile, on the other hand, has a pilot program

currently running where marijuana seeds are sown, cultivated and sold for medicinal purposes only.

Countries like Netherlands have the distribution regulated through ‘coffeeshops’ and possession

up to 5 grams for personal use is decriminalized. On the other hand, North Korea, a place where

most of the drugs are illegal, cannabis is not one of these and it is legal to grow, sell, and possess marijuana legally in the country. Albania which is Europe’s greatest producer of Cannabis or

Marijuana has possession, sale, transportation and cultivation illegal by law.

This data shows that this is an emerging global market where many of the countries are

decriminalizing possession, cultivation of the crop albeit slowly. In Netherlands, a country which is

known for its liberal drug policies, the Dutch Health Care Insurance Board ruled that marijuana will

not be reimbursed as part of the universal healthcare coverage plan in Netherlands. However, a

number of insurance companies have reimbursed patients for medical usage of marijuana on a

case-by-case basis and often only a portion of the cost is covered.

Where Uruguay is concerned, the market and usage is regulated a lot more where Uruguayans can

only purchase up to 40 grams marijuana per month from pharmacies and the government plans to

monitor purchases and consumption patterns using a database which records these sales using

fingerprints. Further this only applies to Uruguayans with a view to prohibit international marijuana


tourism in the country. However, there are also laws for cultivating the plant at home – though this

is subject to a specific number of plants i.e. 6 and a limitation of 480 grams of consumption per year.

In Italy, the cost of medical marijuana is very high, which has prompted the Italian army to resort to

cultivating this crop on its own in order to regulate the prices and make this available at reasonable

rates to those who need it. Distribution of marijuana would be undertaken by pharmacies – but

these establishments are not allowed to grow the crop on their own. Currently, selling, growing and

possessing marijuana is illegal in Italy and there are no plans to legalize recreational usage either.

Medical marijuana is legal in several European countries such as France, Czech Republic and Italy

imports post of its medical marijuana from neighbouring Netherlands.

With marijuana being decriminalized and legalized in certain countries, it is done with a view to

reduce black market consumption and move people from buying from illegal establishments to

legal ones. It has not been conclusively proven, either, that medical use of marijuana does indeed

alleviate symptoms of certain diseases and chronic conditions which is why most health

departments will not support a full reimbursement plan for medical marijuana or cover it via

insurance.


4. IT Services and the Marijuana Industry

An interesting angle to be played out, still, is the role of the IT services industry in this nascent

marijuana industry. Based on opinions and trends available in published reports:

• Insurance - Additional lines of businesses: Most insurance companies catering to the

Marijuana industry will have to update their lines of businesses to take into account the

marijuana industry. This would lead to building out separate sets of rules encompassing

logic and process intricacies involved.

• Inter-relationship of industries: Understanding how the marijuana industry affects other

industries such as retail, medicine, tourism, manufacturing and processes and systems

involved in this. Increased business from most avenues is anticipated given that IT is used

across industries.

• Banking and financials: Capturing and processing information for marijuana industry

players in the banking and financial domain – this would entail billing systems with

additional rules in place to cater to the regulations governing this new industry, logic in

billing and recording sales, et al.

• Healthcare and medicine: Capturing rules and information regarding medical marijuana

usage, monitoring purchases and dosage, issuance of recommendation letters, reporting of

use to governing bodies.

• Reporting: Due to the delicate state of this nascent industry, a lot of rules and regulations

as well as monitoring, is required in order to manage the sales, distribution, usage –

whether recreational or medicinal, cultivation and transportation. Reports are also required

to be submitted to regulating bodies to determine sales, usage, purchases, trends,

popularity of strands, etc. All these require investment in automating the capture of data

and producing these reports.


5. Conclusion

With the legal changes, the international black market has also changed drastically. The black

market prices in recently legalized states such as Colorado are cheaper than the official distribution

channels – this is because of taxes, new testing requirements, packaging requirements, and other

bureaucratic hurdles which marijuana owners need to tackle, in order to put their produce on the

market. There have been instances in Colorado where marijuana sellers admit to keeping two sets

of price lists – one for tourists which are definitely higher than the other for locals.

However, over the years, when tracking the number of medical marijuana users, the increase is not

very substantial – it increased from 106, 763 in November 2012 to 115, 210 in May 2014 when the

Colorado’s Initiative – 502 was legalized. It is pertinent to point out, however, that these numbers

are not significant due to most of the recreational users moving to the general market instead of still

using medical marijuana. Research has shown that a large portion of the medical marijuana users

were people who cited “severe pain” which is difficult to objectively ascertain in order to get their

hands on marijuana. So, even though there are bureaucratic hassles in procuring recreational

marijuana, it is worth the effort given that is it hard to fake symptoms of HIV/AIDS.

Given the changes in the marijuana business industry, legalization will open up avenues and

investment for product testing and research, giving rise to newer product lines especially where

infused products are concerned. Further, investments in new dispensaries, commercial cultivation

operations and manufacturers of these infused products and ancillary products and services are

expected to continue to grow. Companies like Novus Acquisition & Development with consulting

operations aimed at providing cost-savings plans to people – it rolled out its Medplan benefits

network in states where medical marijuana is legal; United Cannabis Corp provides consulting

services to marijuana based companies to help with starting up operations et al. Where product

lines are concerned, companies like mCig, Inc., a Seattle based herbal cigarette manufacturer is

researching ways to make its pocket-sized technology for marijuana use. They have an added advantage of allowing users to inhale the vaporized product rather than smoking it thereby

affecting the lungs.

Even though the market is still at its inception stage, there are a lot of players already in the market

and are destined to have the first-mover advantage once legalization picks up. With all these


companies establishing their places and start ups making a foray, insurance companies will also

ride on this industry boom, coming up with new policies and packages to insure the supply chain, cultivation and sales of this crop and its infused product lines. Underwriters will have to come up

with new ways to evaluate risks given that the loss experience in this industry has been relatively

low – this means that it would still be some time before we have standardized rates for the

industry; with current insurance providers going on a case-by-case basis in this niche segment.


Appendix1 A journalist, Matt Ferner, at Huffington post cited these numbers in his write-up ‘Legal Marijuana

Is the Fastest-Growing Industry in the US: Report’.

2 A journalist, Ariel Nelson, for CNBC authored this post on the Marijuana Market and is growth;

these are estimated numbers based on economists, law enforcement authorities, reformists, the

pro-marijuana lobby members among others.

3 Excerpts from Marijuana insurance coverage as detailed out in the Orange Insurance site; this

provides an overview of marijuana insurance coverage for various dispensaries, cultivators, etc.

4 This is an article by Fortune magazine which briefly offers glimpses into the growing market of

marijuana based beverages in USA.

Excerpts provided from The Colorado Springs Business Journal on the evolving nature of the

marijuana industry.

Information on insurance considerations and impact of marijuana usage has been delved into by

Marsh USA – this has been referred to in order to highlight how marijuana affects the insurance

industry.

Effects of marijuana legalization on the public where insurance and marketing is concerned – the

article “Marijuana: The Implications of Legalization” talks about the sales generated in the states

where its legal, specialty insurance for businesses i.e. set up of cultivations, insuring transportation, general seed-to-crop process vis-a-vis the policy limits in place today.

Italy’s army is growing medical Marijuana to make it cheaper for everyone to afford – an article on

how the patients in Italy get their supply with the new rules and legality of the crop in Italy.

