Those of us working in the cannabis industry remember last year’s recall in Michigan. The cannabis recall was the largest in the state’s history, costing over 400 dispensaries nearly $200 million worth of product. But recalls can exact a toll beyond just lost product. In response to recalls, cannabis businesses are faced with costs related to...
With public opinion warming and state legislation loosening around cannabis, a new type of venue is hitting the social scene. Cannabis consumption lounges—sometimes called cannabis bars—are popping up across states that have legalized recreational marijuana. Consumption lounges provide a new opportunity in a very promising market, yet they come...
New York (June 8, 2022) - Jencap Group LLC (Jencap) has launched an exclusive, niche program offering monoline Site Pollution Liability (SPL) for cannabis risks. The program is specifically designed for cannabis growers, processors, laboratories, warehouses, and retailers. It is a non-admitted, A+XII rated program available in all U.S. states...
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...
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...
If the insurance industry had posted its relationship status in 2021, it would have been "It’s complicated." For 2022, it’s still going to be complicated. ... only a little less so. In this white paper you'll find: Seven major trends that will impact the insurance industry in 2022. Industry outlook for every key insurance vertical – including...
The legalization of cannabis is a hot topic not just among lawmakers and eager hopefuls, but also in the insurance industry. As tolerance and acceptance for cannabis gradually increases, so has its use in the medical community. Medical marijuana usage has grown in popularity in the United States and is now legal in 38 states, 4 U.S. territories,...
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.