Ian A. Stewart

Ian Stewart (Partner-Los Angeles) commented on looting and targeted robberies of cannabis dispensaries during the current civil unrest in “Cannabis Firms Review Losses, Insurance Needs After Riot Damage,” published in the June 16, 2020, edition of Business Insurance. “Certainly, the fact that these are heavily cash businesses was the provocation for many of those attacks,” said Ian. While dispensaries may have had fire-rated vaults, they are not designed to withstand some of the extensive break-in attempts that took place during the unrest. “They were designed to stop a robbery long enough for the police to show up,” he said. In addition, the businesses often have valuable computer and security equipment, which in some cases was damaged and stolen. Dispensaries also face significant sublimits that are in play for various coverages such as cash on hand.

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