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After a year as challenging as 2020, insurance professionals and insureds looking at 2021 with a positive outlook. But that doesn’t mean they are resting on their laurels. Now is the time for agents, brokers, and insurers to strategize for the months ahead. These articles provide insights into the insurance and risk management trends to keep top-of-mind this year.
The legal cannabis market was conservatively valued at slightly more than $15 billion in 2020 and is projected to surpass $30 billion by 2024. (Photo: Alex Reynolds/Shutterstock)It was not long ago the idea of cannabis as a legitimate industry was snickered at. Even now, the mention of marijuana causes some to crack a smile derived from years of regarding the plant’s user base as humorously forgetful and listless.
Bucking the stereotype of being lackadaisical are the incredibly fast-growing businesses that comprise the U.S. legal cannabis market, which is conservatively valued at slightly more than $15 billion for 2020, according to Marijuana Business Daily. Projections have sales surpassing $30 billion by 2024, with some going as high as $37 billion.
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Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].
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