WIN Magazine - Fall 2017 - 17

FEATURE

9-MINUTE READING TIME

CANNA OBSCURA/SHUTTERSTOCK.COM

UNDERWRITING

UNDERWRITING
Issues for an emerging wholesale insurance-industry
risk include legal liabilities, marijuana growth,
medicinal and recreational use.
by BETH OSSINO
HETHER OR
not you personally believe
that marijuana
should be legally
available for consumption, either for medicinal or recreational use, it is a hot-button topic that
will continue to be debated, as the voters
in state after state have decriminalized
these controversial products.
Twenty-eight states plus the District
of Columbia have legalized marijuana for medicinal use and eight
states plus the District of Columbia
decriminalized marijuana for recreational use. According to Green Wave

Advisors, we may see nationwide
legalization by 2021.
Marijuana laws differ state to state,
but primarily speak to the same
issues, including:
* Personal-grow laws outlining how
many plants may be legally grown and
how cultivation is to be carried out.
* How much marijuana a person may
legally possess and what form it may
take (flowers, concentrates, vapor
pens, topicals, edibles and drinkables).
* Licensing (who may legally grow, distribute, transport, sell), retail sales
(what products may be sold and how
will they be grown, manufactured,
distributed, packaged, labeled) and

governmental oversight (safety of the
products, packaging, labeling, taxation, enforcement).
While many states have legalized the
use of medicinal and/or recreational
marijuana, it remains, like heroin, a
Schedule 1 controlled substance under
federal law, making it a crime to manufacture, distribute, dispense or possess
marijuana, and it will remain so despite
voter-approved liberalization laws. This
discrepancy caused the largest marijuana
insurer to leave the market two years ago,
making way for others willing to underwrite these risks despite the uncertainty.
This burgeoning industry poses risks
and offers rewards for the insurance
F A L L 2017 | 17



Table of Contents for the Digital Edition of WIN Magazine - Fall 2017

Do Hurricanes Have a Silver Lining?
Underwriting Marijuana
The Cyber Insurance Conundrum
Writing Data Security Into Law
Gauging Risk, Reaping Reward
Simply Seamless
Moving to the Cloud: 3 Migration Strategy Models and the 6 R’s.
In the WIN-NER’s Circle
WIN Magazine - Fall 2017 - Intro
WIN Magazine - Fall 2017 - bellyband1
WIN Magazine - Fall 2017 - bellyband2
WIN Magazine - Fall 2017 - cover1
WIN Magazine - Fall 2017 - cover2
WIN Magazine - Fall 2017 - 3
WIN Magazine - Fall 2017 - 4
WIN Magazine - Fall 2017 - 5
WIN Magazine - Fall 2017 - 6
WIN Magazine - Fall 2017 - 7
WIN Magazine - Fall 2017 - 8
WIN Magazine - Fall 2017 - 9
WIN Magazine - Fall 2017 - 10
WIN Magazine - Fall 2017 - 11
WIN Magazine - Fall 2017 - Do Hurricanes Have a Silver Lining?
WIN Magazine - Fall 2017 - 13
WIN Magazine - Fall 2017 - 14
WIN Magazine - Fall 2017 - 15
WIN Magazine - Fall 2017 - 16
WIN Magazine - Fall 2017 - Underwriting Marijuana
WIN Magazine - Fall 2017 - 18
WIN Magazine - Fall 2017 - 19
WIN Magazine - Fall 2017 - 20
WIN Magazine - Fall 2017 - 21
WIN Magazine - Fall 2017 - 22
WIN Magazine - Fall 2017 - 23
WIN Magazine - Fall 2017 - The Cyber Insurance Conundrum
WIN Magazine - Fall 2017 - 25
WIN Magazine - Fall 2017 - Writing Data Security Into Law
WIN Magazine - Fall 2017 - 27
WIN Magazine - Fall 2017 - 28
WIN Magazine - Fall 2017 - 29
WIN Magazine - Fall 2017 - 30
WIN Magazine - Fall 2017 - Gauging Risk, Reaping Reward
WIN Magazine - Fall 2017 - 32
WIN Magazine - Fall 2017 - 33
WIN Magazine - Fall 2017 - 34
WIN Magazine - Fall 2017 - 35
WIN Magazine - Fall 2017 - Simply Seamless
WIN Magazine - Fall 2017 - 37
WIN Magazine - Fall 2017 - Moving to the Cloud: 3 Migration Strategy Models and the 6 R’s.
WIN Magazine - Fall 2017 - 39
WIN Magazine - Fall 2017 - In the WIN-NER’s Circle
WIN Magazine - Fall 2017 - 41
WIN Magazine - Fall 2017 - 42
WIN Magazine - Fall 2017 - cover3
WIN Magazine - Fall 2017 - cover4
WIN Magazine - Fall 2017 - outsert1
WIN Magazine - Fall 2017 - outsert2
WIN Magazine - Fall 2017 - outsert3
WIN Magazine - Fall 2017 - outsert4
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