California’s Cannabis Insurance Marketplace Continues To Grow With Commissioner’s Latest Approval

Insurance Commissioner Dave Jones announced today he has approved the first Cannabis Business Owners Policy (CannaBOP) in the State of California. The American Association of Insurance Services (AAIS) designed the new CannaBOP program for cannabis dispensaries, storage facilities, processors, manufacturers, distributors, and other cannabis-related businesses operating in the state. "Cannabis businesses need insurance coverage to help them recover when something goes wrong just as any other legalized business does," said Commissioner Jones.