Up in smoke: California fires damaging marijuana farms

[TexasTowelie]

The wildfires in Northern California are not only wreaking havoc on residential areas. The blazes are also sending marijuana farms up in smoke, CNN reported.

The fires have destroyed several farms in Mendocino County, just before recreational sales begin in California. A lack of insurance coverage could hurt the farm owners.

"Nobody right now has insurance," Nikki Lastreto, secretary of the Mendocino Cannabis Industry Association, told CNN. "They might have insurance on their house, but not on their crop."

Because federal law prohibits marijuana, farmers cannot insure their businesses. Derek Peterson, CEO of Terra Tech, which grows and sells marijuana in California, estimated to CNN that farmers invest more than $5 million in their facilities and as much as $3 million on growing the crop itself.

Read more: http://www.statesman.com/news/smoke-california-fires-damaging-marijuana-farms/79NcmJe4kGxq53UFJq8LnN/

[BigmanPigman]

1. I can't believe it is against the law to get insurance!

Is that due to Sessions?

[BBG]

3. Nope

Not Sessions fault this time. The federal stance regarding cannabis affects insurance and banking as the feds can come down on them as facilitating a federally illicit activity.

[ghostsinthemachine]

2. Bummer. These people will be hurt hugely

And won't be made whole, unlike other ag producers.

[dixiegrrrrl]

4. Worse yet, some of the farms are winning awards for their sustainable growth practices

Just happened yesterday to be reading an article about one Mendocino weed, very hands on, organic, great tilth, etc.
Hope it has survived, but given the location, it might not have. Bummer.