The Institutes

Theft Claims Dominant In Cannabis Insurance Industry

 Monday, December 16, 2019

 Insurance Business

Theft is a weed that is spreading through the US cannabis industry with alarming speed. Its roots are deep and complex, spanning from casual grow operations right the way through to large commercial dispensaries.

They thrive on one thing — the delicious taste of green dollar bills, an inevitable outcome to the theft and re-sale of any cannabis-related product.

Approximately 90% of insurance claims in the US cannabis industry so far have involved an element of theft, according to Gerrit Nagarwalla, claims supervisor at Canopius Group, and panelist at Insurance Business America’s upcoming Cannabis Cover Masterclass in Denver and Los Angeles in March 2020.

This observation is true across the spectrum of the industry, from minor grow operations to huge commercial cannabis enterprises, he adde
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