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Legalization of cannabis in Canada : companies are exploring the market

by

Justine Montminy

20 June 2018 13:30

Bill C-45 for the legalization of cannabis in Canada has been passed by the Senate yesterday to a few days of the end of parliamentary proceedings in the House of Commons. Several companies are already prepared to legalization by launching new products on the market.

This is the case of Markers Financial, a division ofEvergreen Pacific Insurance Corporation. The company has announced the launch of its first insurance product guaranteed issue in Canada that will cover the prescriptions of medical cannabis. It plans to launch its product to its customers in the individual and possibly to extend it to the collective here on the 15th August next.

The insurer wishes to take inspiration from the way in which the dental insurance is administered in the country. The producers of medical cannabis authorized by Health Canada to be paid directly by the insurer, without patients pay the cost of their prescriptions. Markers Financial also plans to offer custom fonts.

A first canadian pharmaceutical company

Sandoz Canada announced yesterday its alliance with Tilray, a producer of medical cannabis authorized by Health Canada. Sandoz has become the first canadian pharmaceutical company to enter the field of medical cannabis.

The two companies plan to invest in research to advance the science relating to various medical conditions, but Sandoz asserts, however, that it worked not in the field of the consumption of cannabis for recreational purposes.

Service disaster

Indemnipro has also announced a new service for the settlement of claims related to cannabis, including, among other flights, both residential and commercial, the damage to plants and crops, the ventilation of the equipment, operations, retail and distribution, responsible distribution and product recalls.

«Given the growing trend of the market, the legalization early and increased attention to the trade of cannabis in Canada, we believe that the introduction of this specialized service is timely «, said the president of IndemniPro, Lorri Frederick.

The ministers of Justice, Health and public Safety and emergency preparedness Canada have confirmed that the date of entry into force of the Law on cannabis will soon be announced. The Law is now waiting to receive royal assent.

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