“Lastly, it is worth addressing that aside from larger companies and a few smaller businesses that recognize the importance of having cyber liability insurance, most operations are still declining this critical coverage. Today, an estimated 10% of cannabis companies are purchasing cyber insurance.
While the cyber market in general has become more competitive, only a few markets are writing cannabis primary business. As a new and emerging industry, rates for cyber liability insurance continue to be double or even triple what a non-cannabis company would pay.”
The cannabis insurance market has experienced a variety of transformations and shifts in recent years. As the sector continues to develop, insurance