This year cannabis revenues are up and so are the number of companies who call themselves profitable. So why does the insurance industry see a “hard” market for cultivators and other licensed businesses?
- For growers, “[t]he market’s hardened in so many areas, property especially, where companies don’t want to write it,” one policy seller said. The property matter centers on general lack of capacity, which has made pricing a prime buying consideration.
- Despite growth, insurers shy away from cannabis because the industry’s characteristic is new, unpredictable and unfamiliar.
- The Library of Congress is compiling racist news articles used to criminalize “marihuana” in the early 20th century.