The state of insurers’ risk appetite one year after pot legalization
September 12, 2019 by Greg MeckbachBusiness clients in the cannabis industry are having a hard time finding some insurance coverages, A.M. Best Company Inc. warned in a report released Thursday. “Coverage available to canna-business owners remains in short supply,” A.M. Best said in its annual…
Poison reports up in wake of cannabis legalization
March 18, 2019 THE CANADIAN PRESSHALIFAX – Atlantic Canada’s largest children’s hospital is warning parents about the risks of edible weed after a flood of cannabis-related calls to its poison centre. The IWK Health Centre says it fielded three times as many cannabis calls to…
How recreational cannabis has created numerous challenges for insurers
March 14, 2019 by Greg MeckbachCannabis legalization is making things more complex for auto insurers and increasing risk for some commercial property clients, A.M. Best Company Inc. suggests in a recent report. About 25 insurers, most of whom are non-admitted, provide coverage for cannabis risks…
Has Intact noticed the impact of pot legalization on auto claims?
February 6, 2019 by Greg MeckbachRecreational cannabis has been legal for nearly four months, but it’s too early for Canada’s largest property and casualty insurer to tell whether it’s having an impact on auto claims frequency. Senior managers with Intact Financial Corp. were asked Wednesday…
How your commercial clients are exposed to pot liability even if they don’t produce cannabis
January 25, 2019 by Greg MeckbachMarijuana poses a liability risk for commercial clients even if they are not in the cannabis business, an insurance lawyer suggests. Suppose your client operates a hotel where a party takes place. If someone smokes cannabis at that party, drives,…
One cannabis risk that seems under the radar
January 23, 2019 by Greg MeckbachWith the legalization of recreational marijuana, more needs to be done to warn people of the health risks, including psychosis, a speaker told insurance claims professionals Tuesday. “One of the things I am most disappointed about is that, in the…
Paid Recreational Cannabis Legalization: Are your HR policies ready?
January 9, 2019 David Smagata, DASDid you know, medical cannabis has been legal in Canada since 1999? Since then there have been numerous amendments to the laws, as well as a significant increase in Canadians who have purchased medical cannabis. According to Health Canada…
Direct damage coverage available for cannabis product movement
November 2, 2018 by Jason ContantA United States-based underwriter of marine cargo coverage has entered the Canadian cannabis market with a product that provides direct damage coverage to goods moving through the supply chain. North Kingstown, RI-headquartered Falvey Cargo Underwriting, which has a Canadian office…
Rates likely to rise if pot legalization leads to more impaired driving
October 30, 2018 by Greg MeckbachIf cannabis legalization results in more stoned drivers, auto insurance rates could rise, a comparison shopping provider suggests. Some Criminal Code offences for marijuana possession were taken off the books effective Oct. 17. This means it is no longer a…
The cannabis myth that CAA is trying to debunk
October 22, 2018 by Greg MeckbachA recent experiment in Montreal shows that people who smoked a small fraction of a joint were much riskier drivers than if they drove sober, the Canadian Automobile Association suggests. CAA funded a study at the Research Institute of the McGill University Health…
Pot firms have deficiencies in disclosures to investors, regulators say
October 10, 2018 Armina Ligaya - THE CANADIAN PRESSTORONTO – Cannabis industry companies have several “deficiencies” in their disclosures to investors, including insufficient information in their financial statements, Canadian securities regulators say. The Canadian Securities Administrators reviewed the disclosures of 70 public companies in the marijuana industry and…
Canadian drivers don’t fully understand cannabis impairment
October 4, 2018 by David GambrillCanadians know that driving while high on marijuana causes a risk to road safety, but they don’t seem to understand cannabis impairment fully, according to a recent Leger poll conducted on behalf of the Insurance Bureau of Canada (IBC). Eighty-four…