Cannabis Capacity & Vaping Are Among Issues in Industry Going Forward

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If there is one big problem in the insuring cannabis space – where issues include property rates, the impact of COVID-19, crime and vaping – it may be capacity. Carriers and reinsurers are still largely shying away from the cannabis business because it’s still considered illegal in the eyes of the federal government.

“Property capacity in general, across the broader insurance market, in E&S, has become a little more difficult of late due to a reduction of capacity,” said Norman Ives, Cannabis Practice Leader / Wholesale Insurance Broker at NutraRisk, a division of Worldwide Facilities specializing in custom insurance products and risk management for the Cannabis industry.

Ives moderated a panel at Insurance Journal’s 2020 Insuring Cannabis Summit titled State of the Cannabis Insurance Market: It’s Moving, But Where’s It Headed?

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