Is Pot No Riskier Than Any Other Surplus Lines Product?

Is the rapidly emerging cannabis insurance market risk free? — No. But as long as brokers follow the rules and know who they’re working with, it’s a fairly low risk proposition, according to Ian Stewart, partner and co-chair of the Cannabis Law practice team at Wilson Elser. Medicinal cannabis is legal in 29 states across the US and in Washington D.C. and eight states are now offering recreational cannabis. The legal pot market is growing fast and so are its insurance needs. One of the biggest challenges in this market is the dichotomy between state and federal law.