Market Insights

Cannabis businesses face unique risks and challenges, and insurance slowly gaining its footing on how to properly insure this budding industry.
Cannabis’ place in U.S. society — and the question of its legality — has been debated since the beginning of the 20th century. The movement to prohibit cannabis hit its high watermark in 1970 when President Richard Nixon signed the Controlled Substances Act into federal law, which designated cannabis as a Schedule I drug and made its possession, distribution and sale a punishable offense. Since that time, however, the pendulum has swung aggressively in the other direction.
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