Why Marijuana Plant Value Is So Important For Adjusters

 Thursday, November 8, 2018

 Canadian Underwriter

Claims adjusters handling recreational cannabis claims will need to consider the value of the plant at any given time in the growing process to determine actual loss, an independent adjusting firm said Tuesday. Potential cannabis greenhouse loss is much greater than a standard greenhouse loss. A major fire to one of these cannabis facilities could potentially see a loss in the $100 million range, said Stephen Agnew, vice president of the specialty risk division at ClaimsPro. Following the legalization of recreational marijuana Oct. 17, there have been rapid expansion projects of very sophisticated cannabis production facilities to grow, harvest and package product.
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