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Marijuana Legalization: Implications for Property/Casualty Insurance

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  • Brenda Wells

Abstract

An increasing number of states have legalized marijuana for recreational use. Though marijuana is still illegal at the Federal level, the administration will not seek to enforce the law in states that have legalized its use, consistent with a majority of Americans who indicate that they do not want Federal resources used to arrest and convict marijuana smokers in states that have legalized the substance (Ferner, 2012). With the legalization of marijuana comes interesting implications for the property and casualty industry. This paper presents the current status of marijuana’s legality, addresses coverage issues that have been litigated, and analyzes the various standard insurance forms on today’s market for coverage implications. Finally, areas for future research are presented.

Suggested Citation

  • Brenda Wells, 2014. "Marijuana Legalization: Implications for Property/Casualty Insurance," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 37(1), pages 77-92.
    • Handle: RePEc:wri:journl:v:37:y:2014:i:1:p:77-92
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