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Ontario Cannabis Retailers Race to Satisfy Security, Insurance Requirements

Hopeful future cannabis retailers of Ontario are racing to make sure they have the necessary security and insurance protections for operating a cannabis retailer in the province, The Growth Op reports.

The process is made more complicated, however, because many of the retailers’ requirements are not yet fully laid out. Thomas Gerstenecker — CEO of 3|Sixty Secure based out of Almonte, Ontario — said in the report that hopeful operators “should be setting up their security protocols now,” though the province’s retail security requirements are still “in a state of flux, although we don’t believe they will be as stringent as they were for the licensed producers.”

“Security considerations will likely be a component of the application process. … We don’t know how specific the requirements will be … [but in] any event, it would be prudent to partner with someone expert in security practices.” —  Harrison Jordan, a Toronto-based cannabis lawyer, via The Growth Op

Insurers, meanwhile, are still trying to assess the new industry’s risks and many providers will be stuck guessing at appropriate insurance coverage rates — at least until several claims have been made and the industry average becomes more apparent.

Ontario cannabis retailers are slated to open as early as April 1, 2019.

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Based in Portland, Oregon, Graham oversees our daily news coverage and coordinates our editorial content. He also writes articles of his own and conducts our written interviews with leading cannabis experts.

 

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