Your Cannabis-Related Clients Need Proper Insurance Coverage to Mitigate Risks

Your Cannabis-Related Clients Need Proper Insurance Coverage to Mitigate Risks

Cannabis industry experts at BDSA Analytics project the global sales of cannabis will increase by 22% over last year’s figures, reaching $35 billion in 2022. The legal cannabis market is poised to grow 20-30% per year and is expected to reach $50 billion by 2026. As sales of legal cannabis continue to grow, so will its impact on the insurance...

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8 Reasons your Cannabis Clients Need Site Pollution Liability Coverage

8 Reasons your Cannabis Clients Need Site Pollution Liability Coverage

The cannabis industry is expected to see exponential growth over the next few years. Market experts project the industry to hit $45B in 2025 and up to $100B over the next 10 years. That growth will only be possible if growers, processors, laboratories and retailers are able to successfully mitigate risk. The various processes involved to take...

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Should Cannabis be Covered Under Workers’ Compensation?

Should Cannabis be Covered Under Workers’ Compensation?

Cannabis is now legal in 38 states and medical marijuana is being used to treat multiple conditions, including cancer, chronic pain, and PTSD. While the FDA hasn’t approved marijuana to treat health issues, some doctors are recommending it to their patients, and courts are debating whether medical marijuana should be an approved treatment method...

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Up in Smoke: Insuring Cannabis-Related Businesses

Up in Smoke: Insuring Cannabis-Related Businesses

The sale of legal cannabis is projected to reach $20 billion within three years. With 33 states passing laws to legalize medical cannabis and 11 allowing recreational marijuana, the insurance industry is beginning to take notice.

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How To Cultivate Your Budding Cannabis Clients

How To Cultivate Your Budding Cannabis Clients

It’s challenging to keep up with the ever-evolving commercial insurance needs of the cannabis industry. Laws are changing – new business types and applications are entering the marketplace – classifications have blurry lines – and insurance coverage needs are a moving target.

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Workers’ Compensation Cannabis Class Code Roulette

Workers’ Compensation Cannabis Class Code Roulette

Determining the proper classification for cannabis businesses is not one you want to take a gamble on.  If you bet on a specific class code and it isn’t accurate, your client could suffer significant premium penalties at the time of an audit or worse – costly coverage gaps.

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