Author: Insurance Business Canada
The rollout of cannabis legalization in Canada has been anything but smooth, but the insurance market is continuing to evolve and change for the better.
“There are now more providers who are cannabis specialists that are operating at higher capacity – they’re adding staff to deal with the inflow of submissions and we’re seeing expansion there,” said Kevin Lea (pictured), president at Fuse Insurance, adding that MGAs are likewise able to access new insurance markets.
“That increased competition is helping with rates and it’s helping with coverage, which is beneficial to the policyholder, plus the more complex risks where we might need higher capacity or maybe [they’re in a] less desirable location are having more insurance companies to choose from, [which] for the client is potentially the difference between actually getting insurance coverage or not.”
View the full article from Insurance Business Canada here.