Work Item
ASTM WK92906
New Guide for Commercial Property and Liability Insurance
1. Scope
To establish a standard guide for insurance companies to provide property, general liability, and product liability insurance policies for cannabis operators, including a review of common exclusions and preferred coverages.Keywords
Risk Management, risk transfer, insurance, casualty, P&C, hazard, insurer, reinsurer, brokerRationale
Standard insurance forms are not equipped to address the unique exposures and needs of the cannabis industry, so each carrier and program have developed proprietary coverage forms to cover cannabis operations, property and inventory. The guide is intended to provide insurance companies, insurance agents and policyholders with a basic expectation for what coverages are typical to the industry, how cannabis policies differ from standard business policies, and common exclusions to be aware of.
Work Item Status
Date Initiated: 11-18-2024
Technical Contact: John Deneen
Item: 000
Ballot:
Status: