Cannabis insurance News

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 …

Cannabis Risk Management Group Plans to Offer Insurance Program

A national group offering risk management advice to the cannabis industry says it is creating a casualty insurance program to provide its members with insurance. The National Cannabis Risk Management Association (NCRMA) announced it is starting the process of registering …

HUB Names Virdi as Chief Cannabis Insurance Sales Officer

Insurance broker HUB International recently named Jay Virdi as its chief sales officer for its cannabis insurance and risk services in the U.S. and Canada. As chief sales officer, Virdi will focus on further developing expertise and resources across the …

How Brokers Influence Specialty Insurance Product Innovation

In an era of insurance transformation, where process simplification and flawless customer service are expected, innovation in policy and product is a must—especially when it comes to the non-traditional coverage aspects of specialty insurance. Whether it’s reputational, cyber, gig economy …