A cannabis growing company has lost its bid to have its insurer cover $1.3 million in claimed business income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms.
A federal district court judge has agreed with National Fire and Marine Insurance Co. that its policy for the Connecticut firm Theraplant did not cover the loss. U.S. District Judge Vern D. Oliver granted the insurer’s motion for summary judgment.
National Fire’s policy provided coverage for building and personal property damage. It also covered business income loss