It’s been almost 7 months since the legalization of cannabis in Canada…
and the world didn’t end.
I had the chance to attend a webinar on weed and insurance for a work-related purpose. However, there was some interesting information which I would like to share but I’ll skip the insurance part. The main thing to know is that it’s new territory and there’s lots of risk to underwrite. Plus there aren’t many insurers (yet) who are keen to jump into the industry.
Cannabis is unique in the way that it can act as both a stimulant and a sedative. Most people still envision a couch-locked, spaced out teenager eating chips while watching Beavis & Butthead in their parent’s basement. Personally, I find being active that much more enjoyable when I’m medicated. When I’m in good spirits and my body is at ease then I can endure activities for a longer duration. Needless to say, I’ve never fallen asleep while riding my bike so the lazy, stoner stereotype holds no merit.
Here I am enjoying some grass. Ooh ya!
We have receptors throughout our body via the Endocannabinoid System which utilizes cannabis for immune function, sleep, appetite, mood and so forth. It’s for this reason the I encourage people who are currently drinking alcohol and/or smoking cigarettes, to explore a switch. There are far more benefits with this alternative method which could very well improve your overall health. It’s been a while since I’ve lit up a spliff so next to vaping I’m also a big fan of the oils. Turns out I’m not the only one because it was interesting to learn that 75% of people don’t want to smoke weed.
By the way, I haven’t had a cigarette since January 2018 and still holding strong.
Here are some brief points which were also covered:
- Ongoing concern between cannabis use and how it affects brain development for people under 25
- Statistics show that 1 out of every 10 users becomes addicted
- Mankind’s discovery of weed dates back to 3,000 BC and since that time no one has died from it
- Cannabis was re-discovered in the 1980’s during the AIDS epidemic
- Portugal’s radical decriminalization of all drugs has dramatically lowered overdoses, HIV infection and crime
- CBD (THC’s non-psychoactive cousin) is used to treat animals such as dogs, cats and horses
The legal cannabis landscape in Canada has allowed for more open access and discussion. There is peace of mind for those who want to ensure they can get a “clean” product free of pesticides and/or feces. At the moment, we have about 173 licensed producers and this number has tripled in the last 2-3 years. There are also 4,000 new patients each month who are seeking a prescription for cannabis. Given this trend, there will be an emergence of more pain clinics which specialize in pot.
Later this year, the recreational side is going to experience another wave of legalization with its edibles. The government is currently in the process of reviewing the guidelines. For example, they’ll need to consider the amount of milligrams in a product such as a chocolate bar or cannabis-infused beverage.
Currently, we only have 25 stores but this will likely evolve into more retailers along with Amsterdam-style coffee shops.
Cannabis legalization is still in its infancy but what an exciting industry with so much growth potential.