California Cannabis Insurance Claim Payout Is Largest To Date

A cannabis insurance payout has recently broken prior records in California. The Thomas Fire burned through a legal marijuana business at the close of last year (and the start of this one). The payout for the insurance claim was $1 million — higher than any previous payout in this category. This wildfire insurance payout is an indicator of the speed of growth of the legal marijuana industry. A Southern Californian cultivator of marijuana was covered by a cannabis insurance company, which remained unnamed but was based in Great Britain. The marijuana insurance policy paid the company for the crop damages experienced when the wildfires plagued California.