Markers Financial Inc. is launching a group insurance product that covers medical cannabis on Aug. 15.
The company, which is a division of Toronto-based Evergreen Pacific Insurance Corp., will initially roll out an insurance product for individuals, tailored to each person’s requirements without any caps or restrictions based on pre-existing conditions.
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The company, which offers group and individual extended health insurance to individuals, business and associations, has started enrolling licensed cannabis producers as suppliers, as well as sales partners across Canada. Markers Financial will pay producers directly and thus eliminate out-of-pocket costs for individual users or plan members.
“Our introduction of insurance coverage for medical cannabis will go a long way toward supporting a more legitimate, patient-centric approach to patient care in Canada,” said Robert Wilson, chief executive officer of Evergreen, in a news release.
“We anticipate a very positive market reception in August.”
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