(L-RGabrielle Pelura and Taylor Anderson of Bressler, Amery & Ross. Courtesy photos Insurance: What to Know for Your Cannabis Business in NJ
The New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act (CREAMM Act) allows the New Jersey Cannabis Regulatory Commission to create rules to govern the availability of cannabis in the state of New Jersey.
December 29, 2021 at 12:20 PM
6 minute read
The New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act (CREAMM Act) allows the New Jersey Cannabis Regulatory Commission to create rules to govern the availability of cannabis in the state of New Jersey. The regulations on conditional cannabis business license applications allowed by this act state that all cannabis business license applicants, conditional and annual, must provide the commission with a plan to obtain "appropriate liability insurance coverage for the proposed cannabis business." See N.J.A.C. 17:30-17 (b)(12); N.J.A.C. 17:30-7.3 (b)(6). With cannabis remaining federally illegal and illegal activity causing insurance companies to summarily reject claims, cannabis businesses now find themselves in a difficult position to comply with both regulations.
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