Attempting to know the unknown in cannabis insurance

There are similarities between cannabis and pharmaceuticals when it comes to underwriting, particularly in the business supply chain, according to one expert.

When entering an unknown area of business, it pays to carry with you knowledge that will help speed up the learning curve.

One such new area of business is cannabis insurance – and, as Alison Renner suggests, there are lessons to be learned from pharmaceutical insurance that can be applied to insuring cannabis – particularly around liability.

Renner, president of life sciences at RT Specialty, who specializes in pharmaceutical product liability, said the burgeoning cannabis industry in the United States carries many unknown risks, which insurers must try to underwrite.

Read More at InsuranceBusinessMag.com