Burns & Wilcox Canada – Medical Marijuana Market Update
March 3, 2016 by Burns & Wilcox Canada
Burns & Wilcox Canada now offers a comprehensive Medical Marijuana Program for federally licensed medical marijuana manufacturers. This countrywide program protects licensed manufacturers throughout their entire process as a business entity.
“Due to recent changes in government, Canada’s medical marijuana industry is flourishing,” said Paul Clarke, National Director of Underwriting, Burns & Wilcox Canada. “Many medical marijuana manufacturers are unaware that the right policy could be the reason their business is able to thrive in this evolving landscape.”
There are currently between 35,000 and 40,000 patients enrolled in Health Canada’s medical marijuana program. The entire market is worth between $80 million to $100 million.
“This coverage is designed to be all-encompassing for businesses,” said Daniel Mason, Property & Casualty Underwriter, Burns & Wilcox Canada. “Rather than purchasing separate property, general liability, directors & officers, inland transit, crime, errors & omissions and other policies from multiple carriers, manufacturers can receive all of these coverages from Burns & Wilcox Canada.”
Medical Marijuana Coverage from Burns & Wilcox Canada covers companies from seedling to stock, from vacant production facilities to fully operational facilities filled with plants and manufacturers’ finished product.
“One of the primary risks that our coverage indemnifies the insured against is fire, whether it’s the plants or the building, or any type of property,” said Mason. “We also protect against theft during manufacturing and during transit.”
Canada’s booming medical marijuana industry calls for evolved coverage. Burns & Wilcox Canada offers a comprehensive coverage solution designed to address the vast spectrum of exposures that manufacturers face.
COVERAGE DETAILS:
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- » $50M property capacity
- » Broad form property coverage on stock
- » General liability limits of $10M and up
ADDITIONAL COVERAGES:
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- » Directors & Officers
- » Kidnap & Ransom
- » Course of Construction
- » Vacant Property
Contact:
- Daniel Mason
- Burns & Wilcox Canada
- Property & Casualty Underwriter
- dhmason@burns-wilcox.ca
- Direct: 416.774.2688
About Burns & Wilcox Canada
Burns & Wilcox Canada is a leading wholesale broker and underwriting manager for the retail brokerage community. Burns & Wilcox Canada leverages both Canadian domestic insurers as well as international carriers, including Lloyd’s underwriters. With access to a broad range of specialty products including commercial lines, professional liability and personal insurance, the company offers unrivaled service and access to an international network, giving brokers a competitive edge for facilitating trans-border business for Canadian clients. With offices in Toronto, Ottawa, Calgary and St. John’s, Burns & Wilcox Canada is part of the Kaufman Financial Group.
More information can be found at www.burnsandwilcox.ca.
About Burns & Wilcox and the Kaufman Financial Group
Burns & Wilcox is the industry’s largest privately-held wholesale broker and underwriting manager. Burns & Wilcox has more than 40 offices across the United States, Canada and London and employs more than 1,000 professionals. Founded in 1969 and headquartered in Metro Detroit, Burns & Wilcox is internationally recognized for its insurance brokerage and underwriting expertise in commercial and professional liability, property, marine and personal insurance.
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