Insurers leery of a growth market

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Marijuana is on the verge of becoming a big business for insurers.

As more states legalize it for medical and recreational uses, there is a growing need for insurance coverage that will protect marijuana-related businesses from the time seeds are first planted, to the quality-control labs that test the plants, down the distribution channels to when they are sold in medical or recreationally oriented dispensaries.

With regard to underwriting risk,

“There’s really not a huge difference between the underwriting risk” associated with the cannabis industry and the “very ordinary commercial risks that insurance companies have been insuring for centuries,” said Marshall Gilinsky, a shareholder with law firm Anderson Kill P.C. in New York.

To read the full story:  Insurers leery of a growth market

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