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Abstract
This paper examines the history of cannabis’s legality in the United States, and analyzes the current status of this issue today with emphasis on the conflicts between various state laws and the federal Controlled Substances Act. A discussion of current property and liability insurance coverages is provided to highlight the various issues pertaining to covering (or excluding) cannabis. The markets for insurance on cannabis businesses are also discussed. Legal rulings that, to date, have involved marijuana and property and liability coverage are presented. Finally, there is a discussion on insurer obligations to pay cannabis claims under current federal and states laws.