Cannabis insurance News

2 Big Cannabis Insurance Providers Say Losses from California Storms Not as Bad as Feared

Just how big an impact the recent historic California storms had on the state’s cannabis industry is still coming into focus, and while two of the biggest players in California’s cannabis insurance market are starting to see upticks in claims, …

Chicago-based Hub to Offer Cannabis Dispensary Insurance Digital Platform

Chicago, Illinois-based Hub International Limited is launching Hub Cannabis Dispensary Insurance, accessible through HUB’s digital commercial insurance platform. The announcement marks HUB’s ongoing effort to expand its digital product portfolio for small businesses, as well as Hubs’s ongoing collaboration with …

Markets/Coverages: Brownyard’s Library Program; Core Specialty’s Equine Unit; Skyward’s Cannabis Bonds; Roamly’s Travel

Brownyard’s ‘By The Cover’ Now 15 Additional States New York-based program administrator Brownyard Group announced that its By The Cover, its insurance program for libraries, is now available in 15 additional states, for a total of 26. By The Cover …

Takeaways from Our Conversation on Cannabis Supply Chain Risks

Everyone knows about supply chain management nowadays. The pandemic, with shelves bare of TP and paper towels, and cargo ships backed up at ports, drove home for many what a supply chain is and the consequences when something goes wrong …

With Federal Legalization Expected, Cannabis Insurers Quietly Get Ready to Roll

Insurers are quietly gearing up for a potential ten-fold increase in sales to the booming $17.6 billion-a-year cannabis industry as Congress inches closer to legalizing pot at the federal level. While 36 U.S. states and the District of Columbia have …

People Moves: Carpenter Names Willis Re’s Harden President of APAC; HUB Appoints Stait to Lead Canada Cannabis Specialty; Riega Is Fidelis’ Head of Sustainability

This edition of International People Moves details appointments at Guy Carpenter, HUB International and Fidelis Insurance. A summary of these new hires follows here. Guy Carpenter Names Willis Re’s Harden as President of Asia Pacific Guy Carpenter & Co., the …

Louisiana a Founding Member of ‘Cannabis Regulators Association’

Louisiana is one of 19 states that are now part of the newly formed non-partisan organization called the Cannabis Regulators Association (CANNRA). The Louisiana Department of Agriculture and Forestry (LDAF) is a founding member of the association. LDAF, which regulates …

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 …