What Insurance Companies may want to Consider before Insuring the Marijuana Industry
By J.B. Woods, Greenpoint Insurance Advisors, LLC © 2017 All Rights Reserved (This article was originally published in Trusted Choice of Colorado)
The most recent election captured the attention of the insurance industry when states like California, Nevada, Massachusetts, and Maine voted to legalize marijuana along with medical marijuana initiatives being approved in other states such as Florida, North Dakota, and Arkansas. Over half of the United States has some form of marijuana law. According to Arcview Market Research, the marijuana industry resulted in $6.7 billion in sales for 2016 and made it one of the fastest growing industries.1
With the amount of growth in the marijuana industry, most insurance brokers are inclined to believe that insurance companies would be eager to offer commercial products such as commercial liability, product liability, directors & officers, property, and workers compensation. This has not been the case, as insurance carriers have grappled with the notion of insuring a product that is federally illegal. The result has been disappointing, as insurance companies have eagerly entered, but then later exite...more
Is The Admitted Insurance Market Ready to Insure Pot?
The Golden State Could Be a Game Changer for the Marijuana Insurance Industry
©2017 Greenpoint Insurance Advisors, LLC
Breaking news out of California when
The Californian reported California Insurance Commissioner Dave Jones wants admitted insurance carriers to insure marijuana. This will not be an easy task for Commissioner Jones considering the fact Lloyds of London does not offer insurance to the marijuana industry.
For those who may not know, admitted insurance carriers are well known companies approved and subjected to regulation by the state in which they operate. Admitted insurance carriers are typically companies like Travelers, Hartford, Farmers, and State Farm to name just a few. Historically, these companies have no interest in insuring marijuana.
Currently, the cannabis insurance industry purchases insurance through the non-admitted insurance markets. There is less competition, more
stringent underwriting, and limited coverage offerings. For example, product liability and directors and officers insurance is extremely difficult to procure. The few insurance carriers offering the coverage ...more
Crucial to your success...Co2 Extraction System Selection
Eden Labs’ Blog
Pumping Systems in CO2 Extraction:
Why and How to Evaluate Liquid, Gas Booster and Dual-pump
by Fritz Chess, Founder
CO2 Pumping Systems - Supercritical to Your Success.
When shopping for a supercritical CO2 extractor, the most important consideration is the pumping system of the extractor. This is the heart of the extractor which determines the rate and yield of oil that will be produced. Yet the pumping systems for CO2 extractors are plagued by design flaws and manufacturing mistakes. To make a wise investment in a CO2 extractor it is essential to understand the pumping system within the machine.
Evaluating Pumping Systems in CO2 Extraction
There are three basic pumping configurations used in CO2 extraction: liquid, gas booster, and dual- pumping. A liquid pump, pumps liquid CO2. A gas booster pumps gaseous CO2. In a dual-pump system, the liquid pump and gas booster are both used in the same extraction process. This article will explain how the three designs work and look at the pros and cons of both.
Gas Boosters: The Legacy CO2 Extraction Systems
The gas booster design was pioneered by Eden Labs in 2003. At the time, most closed-loop s
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