In just a few years, cannabis trading has moved from an underground market to a booming legal business. With medical marijuana legal in 37 states and the District of Columbia, and adult use marijuana legal in 19 states and the District of Columbia, cannabis and cannabinoid producers and distributors have quickly grown to such a size that they need support from a diverse range of financial services companies – including insurance firms.
The insurance industry has been wary of covering cannabis-related industries but there is growing interest in the sector and more insurers, agents and brokers are handling business in what they view as a business sector set for a huge expansion.
As the cannabis sector and insurers examine the risks inherent in cannabis production and distribution questions are arising on everything from crop coverage to directors and officers liability insurance. In addition, the rise of cannabis as an alternative pain medication will have significant implications for the workers compensation sector.
With the insurance industry and the cannabis sector grappling with complex coverage and liability issues, Business Insurance is launching a new conference centered on cannabis insurance and risk management for anyone interested in the cannabis and cannabinoid market.
Experts from a wide range of companies – insurers, brokers, cannabis distributors and producers, and others – will gather virtually this fall to discuss the special issues affecting cannabis insurance and risk management, talk about solutions and provide thought leadership on this emerging issue.
To access the on-demand 2021 Cannabis & Hemp Conference, click here.