Cannabis Industry Resource Guide for Hurricane Ian
For those businesses which have experienced damage due to Hurricane Ian, insurance may offer some relief. Leech Tishman Partner Michael H. Sampson, who co-leads the Cannabis Industry Group, discusses the steps a cannabis business should take following a hurricane in this video.
While language and coverage differ among insurance policies, many standard commercial property insurance policies provide that the insurer will pay for direct physical loss of, or damage to, covered property on the covered premises caused by or resulting from a covered cause of loss. Coverage such as this would, for example, potentially apply when a building has been damaged by the hurricane. Many standard commercial property insurance policies also require the insurer to pay for the actual loss of business income.
If your business has been affected in any way by Hurricane Ian, it is imperative that you locate and review all potentially applicable insurance policies, if you have not done so already.
If you have any questions, want help compiling and reviewing insurance policies, require assistance in documenting or submitting claims, or need to respond to a coverage denial or pursue litigation, please contact Michael H. Sampson, Leader of Leech Tishman’s Insurance Coverage Group and Co-leader of the Cannabis Group.
Many of Florida’s medical cannabis operators suffered damage in the wake of Hurricane Ian, which made landfall Sept. 28. Insurance may be available to cover at least some of these losses.
Property-insurance claims, business-interruption coverage and coverage for extra expenses – such as backup generators, cleanup equipment or facility rentals – should be available to most state operators, experts told MJBizDaily. Cannabis operators should expect pushback from their insurance providers, according to Michael Sampson, a Pittsburgh-based attorney who specializes in insurance issues for marijuana companies and other businesses.
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Michael H. Sampson