Count this among the ways that a changing world is impacting independent insurance agents:
The legal cannabis industry, which includes both marijuana and hemp businesses, is growing at a rate of roughly 25% a year, according to one industry group.
Legal weed may now be too big to fail, despite the the hard line anti-marijuana rhetoric furthered by Attorney General Jeff Sessions. That also makes the cannabis industry a new frontier in insurance.
|Too big to fail
"The reality is, the cannabis industry generates hundreds of millions of dollars in tax revenue, and employs tens of thousands, if not hundreds of thousands of people across the country," said Patrick McManamon, managing director of the Cleveland-based broker Cannasure Insurance Services, during a recent interview with PC360.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
