Hazy Days Of Risk Ahead, Dude

 Wednesday, November 29, 2017

 Canadian Underwriter

The upcoming legalization of marijuana will “impact virtually every line of business” of the insurance industry and introduce a whole new hazy world of risks, a managing general agent said Friday. “If you buy a cookie at Mrs. Smith’s cookie shop with cannabis, is she going to be required to define the THC levels within there?” asked Mark Woodall, president and CEO of Special Risk Insurance Managers in Langley, B.C., referring to the main ingredient in marijuana. “Don’t know. It’s coming so fast and [it’s] such a broad range topic, it’s going to impact your liability, your accident benefits, your employee benefits, and your property [insurance].”