Further demonstrating the legitimacy of marijuana as an industry, a federal court in the District of Colorado has ruled that marijuana plants are insurable.
According to online reports, a U.S. District Court for the District of Colorado ruled in favor of The Green Earth Wellness Center, LLC v. Atain Specialty Insurance Company.
In their decision the Court cited the lack of a “clear and consistent federal public policy in this area,” and declined to follow the ruling of Tracy v. USAA Casualty Ins. Co.
In the 2010 Tracy v. USAA case, a Hawaiian medical marijuana patient had purchased a home insurance policy and filed a claim when 12 of her medicinal cannabis plants were stolen from her backyard. The Tracy claim was ultimately rejected despite the fact the plants were lawfully cultivated in accordance with Hawaiian state law.