The Globe and Mail reports in its Thursday edition that cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability. A Reuters dispatch to The Globe reports that Medmen Enterprises, Canopy Growth, Canntrust Holdings, Aphria and Columbia Care have faced shareholder litigation, accusing leaders of false claims, failing to act in the interest of all shareholders and attempts to defraud investors. The rising costs are another headwind for companies already closing operations and cutting jobs because of slower-than-expected demand. AmWINS Brokerage's Charles Grodecki says, "We're seeing prospective investors and board members requiring coverage in place prior to engaging with a company in order to ensure adequate protection in the event of litigation." That could drive rates and deductibles higher, with the industry already paying well more than what non-cannabis companies pay for similar insurance products. The Horizons Marijuana Life Sciences Index ETF has lost 61 per cent over the past year, while the S&P 500 index is up 6 per cent. Entry-level premiums for directors and officers insurance for public companies have more than doubled.