The National Association of Insurance Commissioners has named California Insurance Commissioner Dave Jones chair of its new Cannabis Insurance Working Group.
Jones proposed that the NAIC establish this working group the NAIC’s Summer National Meeting.
The reason for creating the group would be to enable state insurance regulators to better understand where there are insurance coverage gaps for the legalized cannabis industry and to share and develop best practices for state insurance regulators to follow to address coverage gaps and cannabis insurance regulatory issues.
Jones previously chaired the NAIC’s Sharing Economy Working Group, which developed a template for insurance coverage for ridesharing and home sharing.
“Cannabis businesses face insurance availability and insurance coverage gaps – which means that those who shop, those who work in, those who sell goods or services to, or those who own, invest in
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