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Foley says Michael Kasdin discussed cannabis insurance in a Law360 Q&A
Foley said partner Michael Kasdin discussed cannabis insurance and potential federal reforms in a Law360 interview. The firm’s account said Kasdin examined how federal restrictions affect businesses’ access to insurance and banking, and how legislative change could bring more insurers into the market.
Key points
- Foley said Kasdin identified property and cyber coverage as difficult areas for cannabis businesses.Foley
- The firm said many cannabis businesses rely on a small pool of excess and surplus lines carriers.Foley
- Foley said Kasdin linked greater competition to potentially lower premiums.Foley
- The firm said Kasdin also discussed more tailored products and changes to underwriting.Foley