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Showing posts with the label Cannabis insurance Plans

Specialty Markets Well Positioned to Find Insurance Solutions for Cannabis Sector

Cannabis is a rapidly growing industry and manufacturing and selling the substance for recreational purposes — in all forms — has been legal since last October. But because of government-mandated insurance requirements, it has proved challenging for Canadian cannabis businesses to find the insurance coverage they need. The cannabis sector is not new in Canada, after all the substance has been legal for medical purposes since 2001. And in many ways, that paved the way for recreational  cannabis insurance  products. But what is new is the manufacturing, distribution and retail of recreational cannabis. While the federal government wrote cannabis laws and regulations, it gave provinces and territories the authority to decide how the product is sold, including where stores can be located, how they are operated, who is allowed to sell cannabis — and how much insurance businesses have to carry. For the cannabis sector, manufacturers and retailers alike, procuring insurance is still ...