News Brief
Business Insurance Quotes Stewart on Challenges in the Cannabis Insurance Market
February 16, 2023
Ian Stewart (Partner-Los Angeles, CA) was quoted in “Commercial Marijuana Insurance Market Grows as Premiums Rise, More States Legalize Pot Use,” published in Business Insurance on February 16, 2023. Ian noted that crime coverage can present a challenge because almost all cannabis insurance is provided through bespoke policy forms, and the forms have different definitions of stocks and goods from a theft point of view. He added, “There is absolutely an increase in lawsuits that are premised on under- or over-reporting of cannabinoid content on labels, and associated claims of consumer fraud and false advertising around labeling and testing.”