Cannabis insurance News

Insurance Costs Rising for Cannabis Firms as Unhappy Investors File Slew of Lawsuits

Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and misinformation, with more such action expected. Some …

New Insurer Relm Offers Cover for Cryptocurrency, Cannabis Businesses

Relm, a Bermuda-based insurer that specializes in emerging business categories, has opened its doors for business. The new business, which is led by CEO Joe Ziolkowski and Operations Vice President Keyla Roman, is owned by Deltec International Group, a Bahamas-headquartered …

2020 Predictions from Cannabis Industry Experts: More Insurance Business

More legalization in more states. More product liability risks. More regulations. More M&A. More of many things is what insurance professionals involved in the cannabis industry can expect in 2020. Insurance Journal asked four experts watching the cannabis and insurance …

Cannabis Risk Management Group Plans to Offer Insurance Program

A national group offering risk management advice to the cannabis industry says it is creating a casualty insurance program to provide its members with insurance. The National Cannabis Risk Management Association (NCRMA) announced it is starting the process of registering …

HUB Names Virdi as Chief Cannabis Insurance Sales Officer

Insurance broker HUB International recently named Jay Virdi as its chief sales officer for its cannabis insurance and risk services in the U.S. and Canada. As chief sales officer, Virdi will focus on further developing expertise and resources across the …

How Brokers Influence Specialty Insurance Product Innovation

In an era of insurance transformation, where process simplification and flawless customer service are expected, innovation in policy and product is a must—especially when it comes to the non-traditional coverage aspects of specialty insurance. Whether it’s reputational, cyber, gig economy …

Report: Cannabis Dispensaries May Become ‘Most Profitable’ Specialty Stores

Selling insurance to cannabis dispensaries may the business in which to be in the very near future. A new report claims that cannabis retailing could become one of the “most profitable specialty store categories ever.” The report, From Dispensaries to …

With New, Legal Cannabis Industries, Illinois and Missouri Can Learn from Pioneer States

As Illinois and Missouri undertake the process of licensing businesses in their newly legalized cannabis industries — recreational in Illinois and medical in Missouri — they have the advantage of taking what has worked and shedding what hasn’t in the …

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I love being in the insurance business. We get to be a part of every part of life around the world. We also get to play a part in every emerging risk and trend as they come to the fore …

California Cannabis Market on Track to Hit $3.1B, Report Shows

After briefly faltering a year ago, California’s massive cannabis industry seems to be regaining steam. Cannabis sales in the Golden State are expected to reach nearly $3.1 billion this year, a report released today shows. The report, California: Lessons from …