Certain exclusions that were once prevalent in cannabis insurance seem to be eroding, possibly a sign of some good news for businesses in the industry. A
Heavy cat losses and secondary perils ensured rising rates were a given for the 1/1 renewals, but it was the battle between uncertainty and capacity that determined exactly where they landed. Intelligent Insurer reports.
Rates moved in the right direction at the 1/1 renewals for reinsurers, but not far enough to compensate reinsurers for uncertainties over climate change, secondary perils and claims inflation. There were frustrations on all sides, but if they didn’t get all they wanted, many got what they needed – at least for now.