What it does
CM 99 07 is the inland marine member of ISO's cannabis coverage endorsements. It is used by insurers that choose to cover cannabis property under the Commercial Inland Marine Coverage Part for businesses operating legally under state law. The ISO index lists the current edition as 12 23, with Washington (CM 99 15) and Vermont (CM 99 16) versions.
Who needs it
State-licensed cannabis operators that need coverage for cannabis inventory or cannabis-related property in transit or at other locations.
Quoting and selling notes
Only some admitted carriers have adopted it; many cannabis accounts are placed in specialty or surplus lines markets. Confirm licensing, security, transport practices and inventory values.
