News Briefs
Insurance Journal Quotes Stewart on the Impact of the SAFE Banking Act on the Cannabis Industry
May 15, 2020
Ian Stewart (Partner-Los Angeles) provided his views in an article titled “SAFE Banking in Stimulus Could Put Cannabis Industry on Steroids,” which appeared in the May 14, 2020, edition of Insurance Journal. “If the SAFE Banking language remains in the relief bill, and that bill is passed, it will pave the way for several large commercial carriers to get right into the cannabis market, as well as reinvigorate reinsurance interest, enable much-needed banking services and bring in more capital,” said Ian. “They want to avoid their own D&O problems,” he added. “Within weeks of SAFE Banking passing, you’ll see large household-name commercial carriers jumping into cannabis.”