Since the publication of New Dawn Risk’s previous report last year, US sales of medical and recreational cannabis have skyrocketed, hitting $17.5 billion in 2020 – a 46% increase from 2019.
This will permit insurers to work with the cannabis industry legally, and will also reduce some of the insurance risks previously faced by the industry, New Dawn Risk said.
“The changing attitude towards the cannabis industry, and new state and federal legislation, present an exciting opportunity for insurers to work with growers and sellers.