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Will Farmers Insurance Begin Insuring Marijuana Collectives And Retail Outlets?

farmers insurance marijuana collectives retail outletsCourtesy of The Joint Blog

In what would be a huge step towards legitimizing and protecting the medical and recreational cannabis industries, Farmers Insurance in Seattle, Washington is in the process of establishing insurance programs for medical cannabis collectives; businesses planning to open for recreational sales under Initiative 502 may also apply.

These insurance programs will include things such “general liability, theft-break ins, product liability, business auto ( for those that transport to and from ) and employee protection”, according to Chris McManus, a Washington State activist who recently had the opportunity to sit down and speak with Farmers Insurance representative Cary Randow; “Farmers Insurance is working diligently and quickly with the proper entities to offer insurance for collective owners and potentially #502 licensees”, says McManus, who formerly worked as Pierce County Director for the nonprofit, pro-legalization group Sensible Washington, and is the chief proponent of Initiative 522, which would mandate GMO labeling and is being voted on this November in Washington State.

Farmers Insurance – which was formed in 1928 and has roughly 10 million customers – is one of the largest insurance agencies in the world.

We’ll be sure to keep you up-to-date on this issue as it progresses.

Source: The Joint Blog

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  • EphU

    What ever banks, insurance and ancillary service companies that take the first step of supporting these new businesses will win in the long run. The movement is toward legalization and continuing to operate in the dark-ages may cost you with consumers who support reform. I believe the saying is, ‘you snooze, you loose’.