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Lloyd's of London allows underwriters to insure cannabis in Canada

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Lloyd's of London allows underwriters to insure cannabis in Canada

Lloyd's of London allows underwriters to insure cannabis in Canada
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Simon Dawson(Reuters)
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LONDON (Reuters) - Speciality insurance market Lloyd's of London will allow its member firms to underwrite cannabis-related business in Canada, provided they meet local and international laws, a spokesman told Reuters on Thursday by email.

It will be legal to produce, distribute, sell and possess cannabis in Canada from Oct 17, subject to provisions of the Canadian Cannabis Act, Lloyd's told its 80-plus syndicate members in a market notice.

(Reporting by Carolyn Cohn; editing by Maiya Keidan)

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