Wildfire risk upends California cannabis insurance
The $5 billion industry is under threat as insurers pull out and the state-created FAIR plan fails to cover growers.
Hard hats and steel-toed shoes don’t usually lead to thoughts of custom boutiques. Yet for many higher-exposure and hard-to-place workers’ compensation accounts, a specialty-niche approach to managing risk is a natural evolution.
In these industries, which include waste reduction and recycling, contracting operations involving excavation and heavy equipment, as well as select types of transportation fleets, “severity potential” naturally attracts higher rates.
Insurance buyers in these industries are faced with workers’ comp premiums that are near the top of their annual expenses, sitting just below costs of materials and labor on their financial statements.
Already have an account? Sign In Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
The $5 billion industry is under threat as insurers pull out and the state-created FAIR plan fails to cover growers.
Four clear steps could reverse alarming wildfire trends in the U.S., FireCashBuyer reports.
Commuters in the U.S. in 2024 spend between 16 and 29 minutes behind the wheel.
White Paper
Sponsored by Vortex Weather Insurance
Parametric Hurricane Insurance: A Strategic Solution for Agents and Brokers
Hurricane-related financial risks can leave businesses vulnerable due to gaps found in traditional insurance policies. Parametric hurricane insurance provides a proactive solution for your clients to recover from hurricane-related financial losses quickly. Learn how this innovative coverage model offers transparent payouts based on measurable storm conditions--helping your clients bridge critical financial gaps when they need it most.
White Paper
Sponsored by Vortex Weather Insurance
Hourly Rain Insurance: A Strategic Solution for Agents and Brokers
Rain-related business disruptions can be costly for your clients. Parametric hourly rain insurance offers a proactive approach to mitigate financial losses from weather conditions. This data-driven solution delivers fast, automated payouts when rainfall thresholds are met, ensuring your clients are protected when they need it most.
Copyright © 2025 ALM Global, LLC. All Rights Reserved.