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From growing operations to manufacturers to dispensaries, each segment of the cannabis business has very specific real estate needs when it comes to renting or purchasing properties. From growing operations to manufacturers to dispensaries, each segment of the cannabis business has very specific real estate needs when it comes to renting or purchasing properties. (Photo: Diego M. Radzinschi/ALM)

When it comes to statistics concerning marijuana use and sales, the numbers show just how mainstream cannabis has become. An estimated 12% of Americans actively use some form of cannabis and total annual legal sales are expected to exceed $18 billion this year and reach $25 billion by 2025, according to Statista. And a number of surveys have shown that a majority of Americans favor the legalization of recreational cannabis.

Recognizing that insurers will need to be familiar with the risks and issues associated with providing coverage for cannabis-touching entities, ALM launched the Cannabis Insurance Coverage Specialist designation in fall 2021 to educate insurers and other advisors to cannabis-related business entities. The first three modules in the designation include a general overview of the cannabis industry, examine the risks cannabis-related businesses face and look at the types of claims that could be encountered.

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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 [email protected]

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