Most marijuana insurance claims involve theft

Roughly 90% of cannabis insurance claims in the U.S. industry involve theft, according to Gerrit Nagarwalla, a claims supervisor at London-based Canopius Group.

He also suspects much of the thefts involve “some element of inside information,” he told Insurance Business magazine.

Nagarwalla noted that cannabis workers are working with “millions of dollars’ worth of products” yet are being paid $15 or $20 per hour.