The legal cannabis industry is one of the fastest-growing sectors in the United States. Already worth over $10 billion in annual sales, the economic impact of cannabis could reach as high as $77 billion by 2022, according to Business Insider.
As the industry grows, so has its insurance risks. Understandably, cannabis operations’ first insurance priorities are property and general liability (GL)/products liability; while less apparent, financial risks commonly covered under professional lines programs need to be addressed, as well. Growers, manufacturers, and dispensaries, as well as other entities along the distribution chain, need to assess four key areas of professional line coverage to ensure that they have a complete portfolio of protection. That’s how Paperless Insurance can help.