What’s Smoking Hot In Cannabis Insurance Claims Trends
Nearly two-and-a-half years after recreational marijuana was legalized in Canada, the country’s P&C insurance industry is starting to get a sense of the type of claims arising from the October 2018 legalization.
The big issue right now is vaping, said Kelli Hunt, vice president of underwriting with Next Wave Insurance Canada.
Hunt told Canadian Underwriter that one licensed producer recently had a recall of 500,000 vape pens due to risk of explosion.
In the United States, some people got sick from additives in cannabis vaping cartridges and other devices.
‘So, a lot of insurance companies were very weary of that,’ Hunt said, adding that it turned out it had nothing to do with the legal cannabis market, but rather the illegal market.