Tools + Intel.

Are your cannabis clients missing key coverage—or leaving money on the table? With shifting regulations, emerging risks, and evolving coverage options, staying ahead is more important than ever. Discover the 10 essential insights brokers need to navigate the cannabis insurance marketplace with confidence.

Want to know more about what to expect in the insurance marketplace but don’t have time to read a 10+ page State of the Market? Interested in emerging trends and market or capacity changes? Gain the key marketplace insights you need at just a glance with our easy-to-read 2025 guides.

The cannabis industry continues to grow rapidly. Just two years ago, the global market was valued at nearly $18 billion dollars. Expected to expand at a compound annual growth rate of more than 25% over the next several years, the industry is expected to be worth a staggering $134.4 billion by 2030 (source 1). Although still federally illegal, the cannabis business is attracting entrepreneurs and investors across the U.S., fueled by state legalization measures, growing sales, and a need for tax revenue. While the cannabis industry seems to be shedding its taboo market status in some areas, many financial institutions, including insurance carriers, still remain hesitant to offer cannabis coverage, with the majority of professional, casualty, and property insurance business finding a home in the E&S marketplace (source 3). In 2023, the insurance market for cannabis organizations is continuing to evolve and present opportunities across all lines.

The commercial cannabis industry is booming. It now employs more than 250,000 people, with legal marijuana sales reaching an estimated $9.7 billion across North America in 2018.