Hash oil fires are the next big property risk for insurers
A new wave of butane hash oil explosions linked to illegal cannabis production is causing severe property damage and multi-million-pound insurance losses, posing a growing and under-recognised risk to insurers and landlords, warns James Nathaniel, major and complex loss adjuster at Sedgwick.
Property damage insurance claims linked to cannabis cultivation peaked in 2022 but have since halved, according to Sedgwick data.
This decline reflects insurers’ response to the risk by adding policy
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