Keyword
cannabis
The state of the cannabis insurance market in 2023
May 30, 2023 by Jason ContantEven 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…
What’s new with cannabis insurance regulations?
May 18, 2023 by Jason ContantOne 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…
How is the cannabis insurance market faring?
May 9, 2023 by Jason ContantFour-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,…
How better boards may improve cannabis companies’ D&O options
January 6, 2023 Philip PoradoImprovements 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…
Cannabis producer says B.C. strike, cyberattack could cause $3 million revenue loss
September 21, 2022 Tara Deschamps - THE CANADIAN PRESSAurora 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…
Ontario Cannabis Store unable to process deliveries after partner faces cyberattack
August 9, 2022 Tara Deschamps - THE CANADIAN PRESSTORONTO – 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…
Pot shop sales data was ‘misappropriated,’ Ontario cannabis distributor says
May 11, 2022 Tara Deschamps - THE CANADIAN PRESSTORONTO – 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…
Why cannabis companies are seeing lower D&O rates
February 22, 2022 Jason ContantPricing for cannabis-related directors and officers (D&O) insurance is trending downward, but only relative to the rest of the market, said an insurance brokerage executive. “When cannabis was first legalized in Canada, you had a handful of carriers that [offered]…
Cannabis impaired driving: Here’s what we know about the risks of weed behind the wheel
January 11, 2022 The Canadian PressThis article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Authors: Dina Gaid, Post-doctoral fellow, School of Pharmacy, Memorial University of…
Why the Co-operators won this appeal over homeowner claim
October 29, 2021 by Greg MeckbachIf a client learns something new about insurance law four years after their claim is denied, it’s probably too late to sue the insurer for breach of contract. In a decision released this past Tuesday, the Court of Appeal of…
What to tell clients when home insurer asks if property was previously a grow-op
March 18, 2021 by Greg MeckbachHome insurance clients who move to a new property should have the premises inspected and let the insurer know if there are signs it has been used to grow cannabis. “If a home was a former cannabis grow-op, likely pipes…
What’s smoking hot in cannabis insurance claims trends
February 24, 2021 by Jason ContantNearly two-and-a-half years after recreational marijuana was legalized in Canada, the country’s P&C insurance industry is starting to get a sense of the type of claims arising from the October 2018 legalization. The big issue right now is vaping, said…