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Instant Insights / Marijuana & the insurance industry

Growers want protection against crop loss and other business coverage, and weed distributors and retailers need insurance as well.

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Legalized marijuana: Opportunity or time bomb? – Part 1

The legalization of marijuana across the country raises multiple issues for carriers that are determining whether to enter into this new economy.

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The impact of legalized marijuana on insurance.

The number of unknowns surrounding the gradual legalization of marijuana across the U.S. far outweighs what insurers currently understand about this enterprise. For an industry that relies heavily on actuarial data to assess risk, this new venture provides little information on which to base coverage decisions or risk management strategies.

Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at pharman@alm.com

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