ISO Revises Policy Forms to Address Cannabis
The Insurance Services Office (ISO) has released its firstcannabis-related endorsementsto the business owner form, including changes to property and liability coverage for cannabis operations. ISO develops standard insurance policy forms for use by insurers.
With an increasing number of states legalizing marijuana for medical or adult-use and the 2018 Farm Bill legalizing hemp (in certain circumstances), ISO recognized that cannabis-related property may no longer constitute “contraband” under the business owners policy. Thus, ISO released five Cannabis Endorsements, which were approved for use in a majority of states in September 2019. -more-