By Colleen Condon

CannaBOP was approved in California yesterday. The program was developed by AAIS (American Association of Insurance Services) and is the first Business owners Policy designed for cannabis-related businesses operating in the state.

Competiscan has seen increasing carrier interest in this space across both the U.S. and Canada:

  • Last month Worldwide Facilities released its “Cannabis Industry Expects Growth Up to $35 Billion by 2020” white paper
  • Earlier this year, State Fund Group called cannabis a “budding market for workers compensation insurance” and attended the California Cannabiz Show
  • Caitlin Morgan is targeting the medical marijuana industry as a key area of growth for its workers compensation policies
  • MGAs have been touting its solutions for the industry such as J.M. Wilson’s Medical Marijuana Dispensary & Growing Facility Program
  • Burns & Wilcox Canada introduced a program in 2016 that protects medical marijuana manufacturers throughout their entire process as a business entity.

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