Sessions' Memo re: Marijuana Enforcement
To date, the Cole Memo has been the risk mitigation for state "legal" marijuana businesses throughout the U.S. However, on January 4, 2018, Sessions issued the attached Memo which increases risks to all those "legal" businesses. His call to enforce the law means an increased risk of criminal prosecutions and civil forfeitures of property and assets owned by those involved in the marijuana industry. Most insurance policies have a specific exclusion for damages or loss caused by regulatory enforcement or due to criminal activity. If you business doesn't have a rider specifically covering losses related to forfeiture or other federal governmental action against your business, you can call to discuss the impact of this Memo. Analysis and strategic planning for this increased risk is a prudent step for your business.
Link to the full memo: https://www.justice.gov/opa/press-release/file/1022196/download