Aspen Claims Service

4 Ways COVID-19 Will Change Cannabis And Insurance

 Friday, April 10, 2020

 Insurance Journal

One may not need to be able to read the cannabis leaves to divine the impact of the COVID-19 pandemic on cannabis and insurance.

Some good guesses from any insurance professional with their foot in the door of a dispensary, farm, lab, or distribution facility, might go along the lines of: Vaping will be tougher to insure, reinsurance will be harder to find, expect even more exclusions in policies, greater capacity.

The impact of the virus on the cannabis industry, like many other industries, is most notably lagging sales and sluggish business activity.

A brief run on cannabis by hoarders precipitated a big downturn at dispensaries.

Recreational marijuana sales in four big markets slowed in March as the impact of the virus continues to disrupt both the cannabis industry and the broader U.S. economy, according to an article this week in Marijuana Business Daily.
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