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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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