Lloyd's to allow syndicates to cover cannabis-related business

Lloyd's of London plans to allow its syndicate members to underwrite cannabis-related business in Canada provided they meet local and international laws, Reuters reported. Lloyd's said that it was satisfied that providing insurance for cannabis in Canada would not breach the U.K. Proceeds of Crime Act after taking legal advice. Cannabis' recreational sales are set to begin on Oct. 17 across Canada after the country legalized marijuana.

Read more.