Devastated Northern California marijuana farms are ineligible for insurance
As wine growers assess the damage from the Northern California wildfires, marijuana farms are also counting their losses. But unlike other businesses, they have little reprieve.
“We’ve lost millions of dollars of product for sure,” said Ned Fussell, CEO of CannaCraft. “And we have no insurance.”
Even though California will begin issuing licenses for commercial cannabis starting in January, farmers like Fussell do not qualify for crop insurance, because growing marijuana is still against federal law.
Fussell’s company — one of the largest cannabis manufacturers in California — grows marijuana plants and turns them into cannabis oil, which is used to create over 100 different products. Fussell owns about 20 farms in Northern California, but he’s been able to access only a few of them. The others are in fire zones, still burning.
“As bad as this looks, others are a lot worse,” Fussell said Monday morning. “A lot of...
