It’s still early, but claims experience thus far in the cannabis insurance market is encouraging, according to one leading writer.
“So far, we’re optimistic that we’re going to see that our experience is going to be better than our other lines of business,” said John Donahue, president and CEO of Topa Insurance Co., which offers cannabis products in more than a dozen states.
Donahue made the comments during an hour-long Insurance Journal webinar, Cannabis Insurance, What You Need to Know About the Budding Business, which aired live on May 15. The webinar can be viewed on InsuranceJournal.com’s Research and Trends section.
The webinar, which was sponsored by Cannasure Insurance Services, also featured two other panelists with experience in the area: Chris Boden, cannabis practice group team leader for Crouse and Associates, and Ian Stewart, a partner in Wilson Elser and chair of the firm’s cannabis law practice team.
Donahue acknowledged new ventures generally