Global specialty re/insurer Canopius has announced that it will begin to underwrite cannabis-exposed risks for privately owned and not-for-profit organizations in US states where medical and recreational adult-use is legal.
Coverages include Directors & Officers Liability (D&O), Employment Practices Liability (EPL), and Fiduciary Liability (FL).
The company can now write all types of cannabis-related risks, including transportation, distribution, plant handling, dispensaries and other ancillary supporting cannabis business.
In addition, the company has increased its cannabis liability offering for premises and products liability.
“The management liability package along with our increased general liability appetite aligns with Canopius’ U.S. strategy to broaden its risk solutions for clients across the cannabis industry,” said Laurie Banez, Head of Casualty for the US and Bermuda.
“We’re thrilled to support this growing industry and play a much-needed role in providing cannabis-related coverage,” she added.
Coleman Johnson, Chief Underwriting Officer for the US, and Bermuda, also commented: “This offering strengthens Canopius’ position as a leading specialty insurer, rounding out our overall portfolio and providing our clients in the cannabis industry even more of the critical liability coverages they need to protect their business.”
