News Brief
Business Insurance Queries Stewart on Plunging Cannabis Prices
February 16, 2023
Ian Stewart (Partner-Los Angeles, CA) is quoted in “Sharp Fall in Value of Cannabis Complicates Claims, Changes Risk,” which appeared in Business Insurance on February 16, 2023. Ian said there has been a general drop in wholesale flower prices but unevenly across different states, with California “particularly hard hit.” Such large changes in price can affect insured values and make responding to and evaluating claims difficult. “The fluctuation in prices can have a dramatic effect on the value of theft or fire loss and business income valuation. The decline in prices also can lead to operators spending less on insurance,” Ian said.