Growing concern: P.E.I. insurance company cautious about covering cannabis

An P.E.I. insurance company has informed its policyholders that it won’t be covering any buildings where cannabis is grown unless the company can verify it is being done safely.

P.E.I. Mutual Insurance Company notified its customers of the policy in late February via mailed letters. The company said since cannabis legalization it has experienced increased risk associated with cannabis being grown in both residential and commercial buildings.

“I want to be clear we’re not discriminating, we’re not concerned about use, we’re not judging that at all — where we’re concerned mostly about the safety aspect,” said Blair Campbell, the company’s general manager.

Since cannabis was legalized, the federal Cannabis Act allows up to four plants to be grown per residence for personal use.

“Coverage for buildings and their contents is excluded under P.E.I. Mutual policies where cannabis is cultivated, harvested, processed, manufactured, distributed or sold,” the letter reads.

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Travis Kingdon · CBC News

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