A Rancho Cordova-based insurer Monday launched what it calls the first nationally available insurance coverage designed specifically for the medical marijuana industry.Regardless of what individual states may have decided, possession and use of marijuana is still illegal under federal law. This is the first instance I'm aware of where you can buy insurance to cover you while committing a federal crime.
Only 14 states allow use of medical marijuana today, but Statewide Insurance Services is nonetheless offering coverage in all 50 states.
"Given the growth in the industry, I think it's only a matter of time" before other states allow medical marijuana, said Mike Aberle, a commercial insurance agent with the local firm and national director of its Medical Marijuana Specialty Division.
He added: "Now that we can offer (services) in all 50 states, we can start the minute they go legal, without delay."
Wednesday, March 03, 2010
You Can Now Get Insurance for A Federal Crime
In California, of course:
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