Want to know how I know that weed is going to be legalized on a federal level fairly soon Insurers are getting ready. That’s right! One of these days you’ll be able to get weed insurance on your crops, cannabis-related business ventures and much more.
There is no denying that cannabis is BIG business. Some estimates believe that by 2026 the cannabis industry could hit $41b annually. Despite the yearly earnings for the cannabis industry, insurers only wrote out about 250 million in policies and in many cases are charging far more than typical retailers with extreme limits in place.
This might not be of significant importance to consumers, but if insurers do get a chance to play with the cannabis industry, it could revolutionize the industry within a matter of months.