A HUB International report providing a 2022 industry outlook notes: “The cannabis industry is poised for another year of huge growth in 2022, and the enterprises that will benefit the most are those best-positioned to manage risk.”

Despite this anticipated prosperity, risks in the cannabis industry consistently exceed the availability of insurance. According to Eric Rahn of Alternative Risk Strategies (ARS), "in the traditional insurance market, few carriers underwrite cannabis insurance — and coverage that does exist is expensive and often restrictive. The current premiums for D&O insurance have raised the cost of entry into the cannabis industry. That is what happens in a hard market, and that is when people turn to captives."

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About Alternative Risk Strategies

ARS specializes in custom and hard to place insurance risks. ARS provides traditional and alternative insurance risk strategies and solutions, including Captive Insurance Company Management Services, to clients domestically and internationally. Our brokers have deep experience working with businesses in highly regulated industries and can provide tailored solutions to meet your specific needs. Our goal is to provide you with long-term insurance solutions that bring greater certainty to your risk management and compliance operations. ARS is neither a law firm nor an accounting firm. We are your trusted Captive advisers. For more information, visit https://www.altrisks.com/.