Ian A. Stewart

Ian Stewart (Partner-Los Angeles), cochair of Wilson Elser's national Cannabis Law practice, is quoted in the article "Cannabis Coverage Constraints Ease," published in the September 1, 2024, edition of Business Insider. The article explores the growth of commercial insurance coverage in the cannabis sector, with Ian noting, "Capacity is far better than it was, especially on the property side. It's not uncommon to see very large policies out there." However, while more insurers are offering coverage, there remain far fewer in the cannabis market than in other industries. Also discussed is the need for and enormous expense of D&O insurance, cyber insurance requirements in the case of medical companies handling private patient information and the potential ramifications of the United States Department of Justice's proposed status change moving cannabis from a Schedule I drug to a Schedule III classification. Ian suggests "…there has been little or no guidance from the U.S. Department of Justice or other agencies about the proposed move and what, if any, regulations it might involve, placing the insurance industry in a 'wait and see mode.'"