Insuring cannabis testing labs is a niche market – for now. Market Data Centre in mid-May reported the global cannabis testing services market is projected to expand at an annual rate of nearly 17.4% from now to 2030. This is due in part to the cannabis industry’s growth, but the biggest driver of the anticipated expansion appears to be an increase in cannabis contamination cases. For our latest podcast we spoke about insuring testing labs with Beth Medvedev, division manager in life sciences at James River Insurance Co., and Matt Johnson, a vice president at Quadscore Insurance Services.
This episode is supported by Cannasure, insurance designed to protect and grow the cannabis industry nationwide. Cannasure’s Cannabis & Hemp Program leads the industry in coverage, and its Brokerage division offers a wide range of specialty coverages to ensure that agents have one-stop for the most comprehensive cannabis insurance coverage.
The post EP. 49: Insuring Testing Labs a Niche, but Complex and Growing Specialty appeared first on Insurance Journal TV.