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- Written by: California Department of Insurance
"Golden Bear continues to lead the industry by being the first to offer coverage for cannabis businesses and now by expanding their coverage choices at lower prices," said Commissioner Jones. "Cannabis businesses and consumers will benefit from the new and expanding coverage options and lower rates."
Last November Insurance Commissioner Jones approved a Golden Bear filing making the company the first admitted commercial insurance carrier to file cannabis business insurance in the state. Since then, the department has approved five additional insurance companies to write cannabis-related insurance products in the California market.
"We are very excited to roll out Equipment Breakdown coverage among other new coverages to our Cannabis package policy," said Michael Brown, vice president and underwriting property manager at Golden Bear. "This additional endorsement will provide our insureds with vital coverage for losses to inventory and income caused by the failure of refrigeration equipment, HVAC equipment, and manufacturing equipment so important to the cannabis industry. This coverage enhancement provides Golden Bear insureds with even more peace of mind as they operate their businesses.
Earlier this month, the National Association of Insurance Commissioners, or NAIC, established a Cannabis Insurance Working Group to address the issue of insurance availability for the legalized cannabis industry. Recognizing Jones' leadership on the issue, the NAIC appointed the California commissioner chair of the NAIC Cannabis Insurance Working Group.
Jones has convened meetings between commercial insurance company executives and cannabis business owners to educate the insurance industry about the sophistication, professionalism and risk management of the cannabis industry. Jones has also organized tours for insurance executives at cannabis businesses.
In October of last year, Jones held a first-in-the-nation public hearing to identify insurance gaps faced by the cannabis industry. Cannabis businesses and insurance industry representatives testified about the limited availability of insurance for cannabis businesses.
The hearing revealed that while there is insurance available from surplus lines insurers, insurance gaps in coverage remain, and, until the approval announced last November, no admitted insurance carriers were offering insurance products to cannabis businesses. Jones also announced that he has directed Department staff to devote the resources necessary to timely review cannabis products and rate filings.
In May, Commissioner Jones hosted a webinar titled "Weeding through the Unique Insurance Needs of the Cannabis Industry" with the NAIC Center for Insurance Policy and Research.
In April, Jones renewed his call for insurers to offer insurance products for California's legalized cannabis industry in the wake of published reports that President Trump has overruled Attorney General Jeff Sessions' policy on federal law enforcement against state legalized cannabis.
Jones sent a formal letter to California insurers encouraging them to fill insurance gaps for California's cannabis businesses.
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- Written by: California Department of Insurance
States Title is the first insurtech title insurer licensed and domiciled in California.
States Title is replacing a manual and labor-intensive process of writing title insurance which often involves days of waiting, with an automated data-driven approach, which should lead to reduced wait times, modernized title insurance transactions, increased competition, and reduced costs for home buyers and others in need of title insurance.
"California consumers benefit when new competitors enter our insurance market and they use technology to provide more efficient services at a lower cost," said Insurance Commissioner Dave Jones. "I am pleased to approve a license for States Title to not only sell title insurance in California but also to be domiciled here. Title insurance transactions are often labor intensive and suffer from delays-States Title uses a digital platform which is data driven and automates the process which in turn should bring benefits for consumers."
States Title Insurance Company of California will use data-driven technology to predict the risk and severity of a title defect on a particular property, aiming to deliver title insurance more efficiently and at lower costs.
"We are incredibly pleased to be doing business in the state of California," said States Title CEO Max Simkoff. "We look forward to bringing much-needed innovation and efficiency to the title insurance industry, as well as top-notch service to our customers."
The Silicon Valley start-up is domiciled in California with its first office located in San Francisco's Mission District improvement zone.
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- Written by: California Department of Food and Agriculture
Eligible organizations, including nonprofit groups, academic institutions and resource conservation districts, can apply to assist applicants of three Climate Smart Agriculture programs, the State Water Efficiency and Enhancement Program, the Healthy Soils Program and the Alternative Manure Management Program.
The programs aim to boost climate resiliency through water conservation, soil health improvement and water quality protection.
“These partner organizations provide farmers with technical expertise they need to reach their climate goals, whether it’s conserving water, improving soil health or boosting water quality,” said CDFA Secretary Karen Ross.
CDFA will award grant funds starting at $5,000, with additional funding allocated based on the number of applicants served.
Each organization can receive up to $60,000.
More information about eligibility and program requirements is available at http://www.cdfa.ca.gov/oefi.
Applications must be submitted by email to
Grants will be awarded on a first-come, first-served basis.
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- Written by: Shannon Ridge Family of Wines
Reporting directly to Clay and Angie Shannon, he will be responsible for sales and distribution throughout the US.
Altomari brings 17-plus years of industry experience to this new position.
Prior to joining Shannon Ridge Family of Wines, Altomari’s employers included Hundred Acre Wine Group, Treasury Wine Estates and Southern Wine and Spirits, based in the Chicago and Florida markets.
“I’m beyond excited to join such a well-respected and family-owned company as Shannon Ridge Family of Wines,” said Altomari. “I’ve worked my entire career to reach this level and will have one of the most organized and productive sales teams in the industry.”
Altomari obtained his Bachelor of Science in marketing from the Pennsylvania State University, major in marketing with minors in information systems and statistical analysis, and speech communication. He will be relocating to Nashville, Tennessee.
“With his experience and high energy level, we think Brian will take our sales and distribution to the next level,” said Angie Shannon. “We’re very excited to have him join our team.”
The Shannon Ridge Family of Wines portfolio includes Cross Springs, Dalliance, High Valley, Hillgate, Playtime, Vigilance Vineyards, and Shannon Ridge. Visit the company online at www.shannonridge.com.