Panel discussion: Understanding new regulations and market conditions
The cannabis industry is fast-moving and subject to fluid market conditions such as the recent legalization of recreational cannabis in Illinois, passing of the SAFE Bank Act, and an increase of problematic vaping. These changes in the market have set up 2020 to be one of the most defining years for cannabis to date. In this panel discussion you will hear from industry experts on new regulations, market trends, and future developments that will impact insurers nationwide.
- What are the insurance implications of the SAFE Banking Act, vaping laws and other 2019 regulatory acts?
- The effects of the COVID-19 crisis on the cannabis industry and cannabis insurers
- Are there new or evolving cannabis related regulations occurring in 2020 and beyond?
- How is the insurance market evolving under new laws to support industry developments?
Assistant Counsel , American Association of Insurance Services (AAIS)
Associate Attorney , Vicente Sederberg LLP
Senior Underwriter , Canopius Group
Panel discussion: Cannabis 101: what cannabis clients need in a coverage policy
The cannabis industry is an extremely underserved market segment. Because of the small pool of carriers offering coverage, brokers struggle to find coverage that serves every one of their client’s changing needs. In this panel discussion, hear from insurance professionals and cannabis companies on the inner workings of manufacturers, retailers, and dispensaries to gain insight to where risk lies and what coverage is needed.
- What are the key risk areas unique to the commercial cannabis industry in need of more comprehensive coverage?
- Strategic partnerships: how underwriters, claims adjusters and agents can work together to provide best in class services
- How are cannabis companies currently mitigating loss and how do these best practices impact coverage?
- Successful insurance products available in the market
Cannabis Practice Group Team Leader , Crouse and Associates Insurance Brokers
Chairman , THE NCRMA
Commercial Lines’ Product Manager , AAIS
Remarks by Chairperson
Interactive Session with Merlinos – Actuarial Estimation of Cannabis Loss Costs Interactive Session with CMR – How cannabis claims can still result in bad faith actions by insurers Interactive Session with PPIB – Insuring distribution and delivery risks, beyond commercial auto
Insuring a controlled substance: a deep dive into product liability (30 min)High risk businesses, such as cannabis, present particularly complicated liabilities. What if someone is injured whilst using cannabis products or has a bad reaction? Do your client’s current policies cover those losses? This session deep dives into product liability and insurance solutions best suited to protect your clients. What lessons can we learn from previous cases of loss stemming from holes in product coverage? How can clients be protected against product risk as the market continues to expand?
Insurance Broker , Heffernan Insurance
Panel discussion: Strategies for effective claims handling
Loss is inevitable in high risk industries and cannabis is no exception. This panel discussion examines the latest claims trends and coverage pitfalls seen throughout the industry, and the best practices for assessing loss.
- What are the most common trends in cannabis loss claims?
- Where have coverage policies fallen short, leaving room for costly losses?
- Advise for handling niche claims, such as vaping and false advertising claims
- What are the best strategies for accessing cannabis claims?
Principal CEO , CMR Consulting
Commercial Property Supervisor , Effective Claims Management Inc.
Claims Supervisor , Canopius Group
Partner , Nicolaides, Fink, Thorpe, Michaelides and Sullivan LLC
Panel discussion: Market expansion: The ins and outs of the booming CBD industry
While cannabis continues to be federally illegal, CBD products have flooded the market in recent months, with different coverage requirements and regulations. This panel of experts explains the CBD market’s status, new regulations, coverage opportunities and loss mitigation techniques in this sector.
- What are defining differences between the hemp, CBD and cannabis industries?
- How have recent changes to regulations, including the 2018 Farm Bill and FDA codes, affected the insurance industry in this sector?
- How does liability differ when dealing with ingestible CBD and hemp products?
- Future market shifts in the CBD/ hemp industry: How will this continued market expansion impact insurers?
PartnerCommercial Underwriting Manager , Burns & Wilcox
Vice President , Professional Program Insurance Brokerage
Founder & Executive Director , California Hemp Association and California Hemp Foundation
Principal and Senior Consulting Actuary , Merlinos & Associates, Inc.