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Up in smoke: 5 impacts of Lloyd’s of London ending cannabis coverage

Lloyds decision to pull out of the marijuana market will have long- and short-term effects on this growing industry.

By Galen Hayes | Updated on June 26, 2015

In late May 2015, a memo went out from the head of Lloyd’s of London to its syndicates advising all underwriters that, effective immediately, no new marijuana-related business was to be written and none was to be renewed.

The reason? Lloyd’s no longer wants to write this business until cannabis has been legalized at the federal level.

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