California’s insurance commissioner is calling on insurance companies to provide coverage to cannabis firms in the state.
Commissioner Dave Jones’ efforts are notable given that insurance would be mandatory for cannabis businesses under proposed rules drafted by California regulators.
Jones is conducting a series of meetings with major insurance carriers in the state at which he is appealing to them to serve marijuana businesses, the Orange County Register reported.
Because insurance companies depend on federal licenses, most do not insure cannabis companies. Insurers fear that doing business with a firm that works in cannabis, which is federally