Cannabis Coverage Update
CANNABIS INDUSTRY ENTREPRENEURS
The American Cannabis industry continues to expand and evolve throughout much of the country. Many State-level governments have embraced the idea that the financial gains generated by legal cannabis businesses outweigh any moral or social risks.
The industry is expected to reach $30 Billion in market value by 2025. Over 120,000 people are employed as growers, manufacturers, distributors, brokers, researchers, testers, and retailers. The startup activity is brisk as well as a large influx of fact paced mergers and acquisitions of established companies.
American life insurance carriers have yet to substantially embrace the cannabis industry; however, we have developed a relationship in the “specialty” markets to offer key person, business loan, and buy sell insurance. Additionally, policy contributions can be paid by credit card which is advantageous in that banking representation if quite difficult.
Looking forward to hearing from you to discuss.