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For Agents

Tips for When States Flip

- October 1, 2020

By Kristen Bacon As more states legalize marijuana, the market for cannabis insurance is rapidly expanding. Additionally, states are transitioning from legalization to their first sale must faster than ever, as detailed in a recent Marijuana Business Daily article. With eleven active adult-use states and four more (Arizona, Montana, New Jersey and South Dakota) voting […]

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For Agents

Risk Management: Views from the Experts

- October 1, 2020

“We could see an uptick in product claims related to acute bodily injury, whether it be from allergic reactions, poor labeling, or incorrect dosage yield….in the age of social inflation, these claims are becoming all too common.” Keith Distel, Casualty Team Leader and Marijuana Liability Subject Matter Expert of Admiral Insurance, and Ben Rozema, Director […]

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For Agents

Spotlight on Massachusetts

- October 1, 2020

Massachusetts legalized medical cannabis in 2012 and adult use cannabis in 2016. As of now, there are 547 licensed cannabis businesses and counting. Mark Sawyer, Senior Vice President of Corcoran & Havlin Insurance, was one of the first cannabis insurance brokers in Massachusetts. We asked Mark to share some of his experiences in one of the […]

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For Agents

How to Succeed in the Cannabis and Hemp Insurance Space

- August 14, 2020

As the legal cannabis and hemp industry in the United States continues to grow, more insurance agents are stepping into the market. That means more agents knocking on the doors of your clients, directly competing for business. This doesn’t have to be a bad thing, as going the extra mile for your clients allows you […]

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For Agents

Building Your Cannabis and Hemp Insurance Business by Referrals

- July 13, 2020

Referrals are a great way to build your book of business. Not only are they a cost-effective strategy for growing your client list, but they also tend to be stronger leads with a better chance of becoming a customer. When referrals come directly to you, you can spend less money on marketing and less time […]

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For Agents

Helping Dispensary Owners Find The Right Coverage

- May 26, 2020

As the cannabis and hemp industry continues to grow, new dispensaries are establishing themselves around the country. For many dispensary owners, this is the first time they are running a cannabis and hemp business and possibly, their first time running their own business in any industry. As an agent, your clients will be looking to […]

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For Agents

Common Marijuana Claims & How to Handle Them

- March 30, 2020

It’s no surprise that the rapidly-expanding marijuana industry has become a large opportunity for insurance brokers and agents. However, this highly complex industry presents a unique set of challenges. Cannabis-related businesses have many of the same needs as any other industry — from property coverage to product liability — but with such a new and […]

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For Agents

Convincing Potential Clients that they Need Cannabis Insurance

- November 12, 2019

The marijuana business is just that—a business. Big business. In 2017, legal sales of marijuana (medical and recreational) reached $8 billion. With more than half of U.S. states having legalized some form of medical or recreational marijuana, and more states expected to do so, legal sales are projected to reach $22 billion by 2022. That’s […]

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For Agents

How to Grow your Clientele as a Marijuana Insurance Agent

- September 17, 2019

Growing a successful business in a niche industry can be a challenge. And, as the marijuana insurance industry evolves and shifts over time becoming more competitive, you may find yourself having to get more and more creative in order to increase your list of clientele. Consider these tips: Revisit your target clientele and goals Oftentimes, […]

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For Agents

What are Cannabis and Hemp Companies looking for in an Insurance Agent?

- April 30, 2019

With more and more agents starting to offer cannabis and hemp insurance, it’s important to set yourself apart from the competition. Keep in mind that companies will be looking for the following when shopping around for coverage: Expertise Cannabis and hemp companies want to work with an insurance agent who knows the industry like they […]

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