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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 ....
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Insuring Cannabis Summit: Capacity, Vaping Among Issues in Industry Going Forward December 14, 2020 Editor’s note: This is part of a series of articles based on panels and presentations during on Nov. 19. If there is one big problem in the insuring cannabis space – where issues include property rates, the impact of COVID-19, crime, vaping – it may be capacity. Carriers and reinsurers are still largely shying away from the cannabis business because it’s still considered illegal in the eyes of the federal government. “Property capacity, in general, across the broader insurance market, in E&S, has become a little more difficult of late due to a reduction of capacity,” said Norman Ives, a wholesale insurance broker at Worldwide Facilities LLC specializing in custom insurance products and risk management for the cannabis industry. “We’ve seen increases of rates of in the E&S lines anywhere from 15 to 30%, acr ....