Lloyd’s to allow cannabis insurance
The marketplace has told its underwriters they can insure people who produce, distribute and sell marijuana in Canada where the drug is being legalised.
Underwriters at Lloyd’s of London have been given permission to insure legal cannabis-related activity that takes place in Canada.
According to a report by the Financial Times the marketplace sent a note to underwriters explaining that the legalisation of cannabis-related activity in the country could give rise to “new opportunities for insurers considering writing related risks”.
Canada is set to legalise recreation use of the drug in October this year.
Advice
The report stated that Lloyd’s
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