TORONTO, June 15, 2018 /CNW/ - Markers Financial Inc. ("Markers Insurance" or the "Company"), a division of Evergreen Pacific Insurance Corporation ("EPIC"), announces it is introducing Canada's first guaranteed issue insurance product for individuals providing coverage for medical cannabis prescriptions. The Company plans to launch its individual product, followed by a group product for companies wishing to provide such benefits to their employee group, by August 15, 2018.
Robert Wilson, Chief Executive Officer of EPIC, commented, "our introduction of insurance coverage for medical cannabis will go a long away toward supporting a more legitimate, patient-centric approach to patient care in Canada. We anticipate a very positive market reception in August."
Similar to the way in which dental insurance is administrated in Canada, medical cannabis producers licensed by Health Canada will be paid directly by the insurer, such that patients will never be out of pocket for the cost of their prescriptions. Policies will be customized to each insured's actual requirements, with no caps or restrictions based on pre-existing conditions. All medical cannabis producers licensed by Health Canada are eligible to participate in this program. In late May, the Company began the process of enrolling licensed producers as both medical cannabis suppliers and channel sales partners across Canada, and this process is ongoing.
About Markers Insurance
Markers is a Canadian insurance agency and is headquartered at 400-1500 Don Mills Road, Toronto, Canada. The products marketed and sold by the Company will be underwritten by the Canadian insurance industry. See www.markersinsurance.com.
Evergreen Pacific Insurance Corporation Ltd. is a financial-services holding company. EPIC owns, operates, and invests in businesses involved in designing, developing and distributing highly innovative insurance products and risk management solutions. See www.evergreenpacific.ca
The information contained in this news release is provided for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Evergreen Pacific Insurance Company Ltd. (EPIC) or other related entities. The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The views, opinions and advice provided in this news release are provided for information purposes only. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this news release. Except for statements of historical fact, this news release may contain certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. This news release does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U.S. person as defined in Regulation S under the United States Securities Act of 1933 (as amended the "Securities Act"), or in any other jurisdiction in which such an offer would be illegal. Evergreen's shares have not been and will not be registered under the Securities Act.
SOURCE Evergreen Pacific Insurance Corporation
For further information: Gordon Forstner, Vice President, Communications, 416-560-8056, [email protected]