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Topic Cannabis

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Westland, Hub’s latest P&C acquisitions

September 8, 2023 by Jason Contant

Westland Insurance Group and Hub International Ltd. have added to their property and casualty insurance offerings through recent M&A activity.  Westland Insurance acquired Saskatchewan personal and commercial lines brokerage Insurance Matters Inc., while Hub International acquired Ontario-based cannabis insurance brokerage

Sign on cannabis shop in a city
News CannabisClaimsCommercialInsurersMGAsProperty

The state of the cannabis insurance market in 2023 

May 30, 2023 by Jason Contant

Even though inflation cooled to 4.3% in March from a high of 8.1% last summer, its effect is still being felt on personal and commercial lines alike.  The cannabis insurance market is no exception. Carriers across the board are looking

Purchasing cannabis with a credit card
News B.C.CannabisClaimsClaims Canada ArchiveCommercialLiabilityMGAsOntario

What’s new with cannabis insurance regulations?

May 18, 2023 by Jason Contant

One MGA is questioning a regulatory change in Ontario that dropped a mandatory requirement for licensed producers (LPs) of cannabis to hold $15 million in product recall insurance and instead raised the commercial general liability requirement to that amount. In

Purchasing cannabis with a credit card
News CannabisClaimsClaims Canada ArchiveCommercialInsurersLegalLiabilityLoss TrendsMergers and AqcuisitionsMGAsSupply Chain

How is the cannabis insurance market faring? 

May 9, 2023 by Jason Contant

Four-and-a-half years after recreational marijuana use was legalized in Canada, cannabis companies continue to face a number of challenges, including insolvency, consolidation and low or flat growth, according to a recent report from EY Canada. “Established/mature markets — including Canada,

Cannabis company executives examine the goods
News CannabisClaimsCommercialEmerging RisksInsurersLegalLiability

How better boards may improve cannabis companies’ D&O options

January 6, 2023 by Philip Porado

Improvements in capacity in the directors and officers (D&O) insurance space, combined with a rising quality of boards of directors membership, is making coverage for cannabis producers and distributors more accessible. “We’ve seen a real shift in the experience levels

A man driving and smoking marijuana
News CannabisClaimsLegalPersonal Auto

Four years after marijuana legalization: What are auto claims looking like?

December 14, 2022 by Jason Contant

Marijuana legalization in Canada has shown “no statistically significant changes in the average cost per claim and claim frequency,” according to a new report from the Canadian Institute of Actuaries (CIA) and the Casualty Actuarial Society (CAS). “The literature review

BCGEU members on the picket line
News CannabisCommercialCyber

Cannabis producer says B.C. strike, cyberattack could cause $3 million revenue loss

September 21, 2022 by Tara Deschamps - THE CANADIAN PRESS

Aurora Cannabis Inc. says it could take a revenue hit of up to $3 million because of a cyberattack that downed Ontario’s pot distributor and a strike that halted deliveries to B.C. marijuana stores. Glen Ibbott, the Edmonton-based cannabis company’s

Cannabis ordered online
News CannabisCyberOntario

Ontario Cannabis Store unable to process deliveries after partner faces cyberattack

August 9, 2022 by Tara Deschamps - THE CANADIAN PRESS

TORONTO – The Ontario Cannabis Store says a cyberattack faced by one of its logistics partners has left the provincial pot distributor unable to process or deliver orders to marijuana shops and customers. The OCS said Monday evening there is

Handmade collage with female portrait and her distorted mirror reflection
News CannabisClaimsCommercialInsurersLegalLiabilityOntarioRisk Managers

D&O excess policy needs to spell out exceptions from primary policy

July 14, 2022 by David Gambrill

If an excess insurance policy follows the form of a primary policy, and the primary policy offers an option that extends the claims reporting period by a year, the insured is entitled to the same option under the excess policy,

A rear view of a businessman as he places his hand on his head and looks up at random numbers from a clock face that appear on the wall in front of him.
News CannabisClaimsInsurersLegalOntarioPersonal Home

New innocent co-insured law does not apply retroactively: Appeal Court

May 18, 2022 by David Gambrill

Ontario’s new innocent co-insured law does not apply retroactively to claims events that happened before the legislation was passed, the Ontario Appeal Court has ruled. The co-insured rule restricts application of insurers’ policy exclusions for criminal acts only to those

Purchasing cannabis with a credit card
News CannabisCommercialCyberOntario

Pot shop sales data was ‘misappropriated,’ Ontario cannabis distributor says

May 11, 2022 by Tara Deschamps - THE CANADIAN PRESS

TORONTO – The Ontario Cannabis Store says a data breach involving some of its sales information is being investigated by the Ontario Provincial Police. Daffyd Roderick, a spokesperson for the Crown agency responsible for distributing cannabis from producers to pot

Business man travelling the world to acquire insurance.
News CannabisClaimsCommercialCyberEmerging RisksInsurersLiabilityLicensingMGAs

Placing business with non-licensed markets: What to look for

March 31, 2022 by Greg Meckbach

Clients looking for property and casualty coverage have options other than insurers licensed to write coverage in Canada. But brokers and managing general agents say there are hazards and tax implications when placing with an unlicensed or non-admitted insurer. And