The conflict between state and federal laws is keeping many mainline admitted insures from writing cannabis businesses. As a result, any new capacity coming into the market is from existing players and programs looking to expand. However, carriers are giving this sector a hard look, Amwins, Inc. reported. (Credit: Ian Miller/Adobe Stock)
The battle is heating up to write property lines for well-run cannabis businesses with clean loss histories, which are seeing capacity increase, according to a report by Amwins, Inc. However, companies in this space with loss history or undesirable risk profiles are seeing rates grow, capacity tightening and additional exclusions.
The conflict between state and federal laws is also keeping many mainline admitted insures from writing cannabis businesses. As a result, any new capacity coming into the market is from existing players and programs looking to expand. However, carriers are giving this sector a hard look and many are developing plans to respond if federal laws change.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
