Proposition 207 Passed: Arizona Cannabis Businesses May Need an Insurance Update

This new law means Arizona companies that are going to be selling cannabis for recreational purposes should update their cannabis insurance. Mosaic Insurance Alliance can provide needed coverage.

Lynnwood, Washington: Arizona made big changes in the cannabis industry with the recent passing of Proposition 207, which allows Arizona cannabis businesses to sell recreational cannabis in addition the medicinal cannabis the state has been able to sell since 2010 when Proposition 203 passed. Mosaic Insurance Alliance writes insurance in multiple states, including ones with medicinal and recreational use like Arizona, helping businesses comply with state and federal laws so that they can build a safer place of business and have a policy that will better protect in case of a claim.

With the passing of Proposition 207 in November 2020, cannabis businesses have been able to expand to recreational use since January of 2021. Expansion can be great for any market. Expansion can also be costly if the necessary precautions are not taken to abide by state and federal laws. A business owner will also want to make sure that in addition to compliance, their business insurance plan is updated to take on the new products, equipment, sales, etc. in case of the event of a claim.

As one of the leading cannabis brokers in the United States that has been active in the cannabis insurance business for numerous years, Mosaic Insurance has access to the top cannabis insurance carriers. Mosaic knows the steps to get the right coverage for this new circumstance that Arizona business owners are facing, having already delt with other state expansions and being already familiar with new and pre-existing Arizona protocols.

Being an independent insurance agency that has been heavily involved in the cannabis department for many years, Mosaic knows the needs of retailers, growers, processors, transporters and more, helping clients get the insurance coverage they need to protect their business investments and have a safer work environment. Mosaic knows that business regulations can be robust, confusing, and change rapidly, especially in the cannabis business field. Laws, restrictions, guidelines, requirements, and more vary by state, and federal restrictions can complicate things even more so. Keeping up to date on cannabis business requirements so that owners comply with federal and state laws and regulations is an absolute must when Mosaic creates policies for their clients.

Mosaic Insurance is licensed to sell cannabis insurance in Arizona, Washington, Oregon, California, Colorado, Montana, Alaska, and Nevada. A free insurance quote, and more information on cannabis insurance, can be found on the Mosaic website. Mosaic’s Cannabis Program Director, Steve Boone, can be reached at 425-329-8318 and Mosaic’s main point of contact is 425-320-4280 and, with hours of operation being Monday-Friday from 8:30 am to 5:00 pm PST.

Release ID: 89003481