The Ontario Broker - April 2019 - 16

SUM INSURANCE ON
CANNABIS COVERAGE

W

ith the legalization of cannabis now six months
old, we connected with Bob Bousfield, Property
Practice Leader from SUM Insurance - leading
underwriter of Cannabis in Canada - on what
brokers need to know.

BACKGROUND
There are three types of cannabis cultivation in Canada - personal,
commercial and illegal; SUM provides coverage for the first two.
There are approximately 500,000 medical cannabis patients
recognized by Health Canada, of which 50,000 have permits to grow
cannabis at the premises designated on their license. SUM provides
property and premises liability for personal production risk.
For commercial cultivators they provide builder's risk, Course of
Construction and wrap up liability through to large, fully operational
risks - providing property, equipment breakdown and spoilage,
product liability and recall, E&O, D&O, cyber, transit, surety bonds
and environmental impairment. They offer products for commercial
cannabis sectors like clinics, processors, R&D, testing labs,
equipment manufacturers, suppliers, clinical trials, cargo and retail
operations. They also insure micro-cultivators, micro-processors
and nurseries.

QUICK HITS
SUM products are supported by Canadian and Lloyds markets and
are specific to Canadian risks.
SUM's domestic carriers provide first party coverages including
business interruption, stock, contamination and infestation.
Some of the recent territories they've written Products Liability in
include Germany, Colombia, Jamaica, Portugal and Australia.

APRIL 2019

16

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The Ontario Broker - April 2019

Table of Contents for the Digital Edition of The Ontario Broker - April 2019

In This Issue
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The Ontario Broker - April 2019 - In This Issue
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