2024 Wildfire Outlook, Risk and Predictions

The number of US homes destroyed by wildfires has more than doubled since the 1990s. In just the first half of 2024, Texas has already experienced the largest fire in its history. While there are fewer fires today, they are far worse than in previous decades. Why has there been such an increase in the […]

Eight Risk Management and Insurance Issues Cannabis Companies Must Reckon With

The cannabis industry is growing exponentially, driven by legalization in large states and by a surge of venture capital. As a result, the global cannabis market is expected to reach upwards of $149 billion by 2031. However, there are many insurance and risk management issues that cannabis operators must contend with. New cannabis-related businesses (CRBs) […]

Employment Practices Liability Insurance (EPLI) for Dispensaries

What is EPLI? Dispensaries and other cannabis businesses face the same challenges that any organization faces with hiring and firing employees. However, several factors make dispensaries vulnerable to employment practices lawsuits. For one, the industry has a high employee turnover rate, averaging 40 to 60% churn within the first two months of employment (according to […]

Four Critical Mistakes Dispensaries Make When Purchasing Cannabis Business Insurance

Not all cannabis business insurance policies are created equal. Each dispensary or cannabis business has unique insurance needs, so policies will differ from company to company. With that in mind, there are several options that dispensaries should deeply consider before opting out. However, dispensaries routinely make the mistake of not buying enough insurance coverage in […]

An Introduction to McGowan Wholesale Cannabis Insurance

The Current State of The Industry The demand for cannabis insurance continues to grow each year. As of now, 38 states and Washington, D.C. have legalized medical cannabis, and 19 states and D.C. have legalized recreational, adult-use cannabis. The conflict between state and federal law makes compliance a minefield for cannabis-related businesses (CRBs). CRBs face […]