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Rapid City council meets tonight with cannabis on the agenda

Published: Sep. 7, 2021 at 5:00 PM MDT
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RAPID CITY, S.D. (KEVN) - The council will introduce an ordinance that would adopt a City licensing plan for all medical cannabis establishments for them to legally sell the product.

Along with required licensing, a business looking into selling cannabis products would also have to get insurance.

Not all insurance agencies will cover cannabis sales though, it is under specialty markets. When the insurance company covers the product it will cover the cultivators, growers, dispensaries, manufacturing and processing, CBD retail and merchandising, hemp growers and processors, along with the building renters and the cannabis tenants.

”The one thing you want to remember if you’re getting a quote on the medical marijuana, cannabis side, you do want to let the insurance companies know at least one to two weeks ahead of time because it takes, it’s not like quoting an auto or home where you’re going to get an immediate quote, you’re quoting a technically iffy product in the state still,” said Sue Sharpe, agent at Farmer’s insurance.

She also recommends sellers get professional liability insurance, that will insure companies information that they tell customers about the product.

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