By Fiona Chaney and Pamela Woods ( May 18, 2017, 11:23 AM EDT) -- In 1996, California legalized the use of medical cannabis in limited situations and in November 2016, California voters approved the recreational use of cannabis, subject to certain limitations. As a result, the cannabis industry — particularly in California — continues to grow at an exponential rate. Obviously, the cannabis industry presents unique risks. Although some insurers have sidelined themselves and decided not to insure this burgeoning industry, others are creating new insurance products to match the industry's needs. As a result, a number of specialized cannabis-specific insurance products are on the market. It is important for entrepreneurs and cannabis enthusiasts seeking to cash in on this latest gold rush to properly insure cannabis-related risks and to understand the different types of insurance products available for the cannabis industry....