Michigan’s Regulatory Reform Committee is set to hold a hearing on Tuesday over new legislation that would clear the air concerning consumer protections around cannabis products.
SB 1057, introduced by Sen. Curt VanderWall, a Grand Rapids Republican, would amend the current cannabis licensing act to make requirements that cannabis licensees have proper insurance or financial backing in case someone is injured by one of their products more clear.
The legislation would require cannabis businesses to file proof of financial responsibility for liability for bodily injury resulting from the manufacturing, distribution, transportation, or sale of marijuana or marijuana-derived products, and spells out what that proof of responsibility can be. Applicants must also include a liability insurance policy.
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