CannGen’s Year in Review and Projections for 2024: Navigating the Future of Cannabis Insurance

As the curtains have closed on 2023, we took a momentous pause to reflect on a year marked by achievements, milestones, and a promising outlook for the cannabis and CBD industries in the year ahead.

A Look Back at 2023

Entering 2023 with a steadfast commitment to serving the unique needs of the cannabis and CBD sectors, CannGen demonstrated unwavering dedication to operators in this unique space throughout the year. The company continued to extend its comprehensive insurance coverage to businesses in these industries, especially those newly navigating the online landscape due to evolving and new local regulations.

Through the operation’s participation at trade shows and conferences, such as the Insuring Cannabis Summit and MJBizCon, the company further solidified its reputation as an industry leader in risk management. This was done by providing invaluable guidance to clients on best practices, protocols, and compliance in the ever-changing legal landscape of the cannabis and CBD markets.

Cannabis Insurance Solutions that Drive the Future

In a stride towards innovation, CannGen unveiled a suite of insurance solutions in 2023, specifically designed to address the evolving needs of its clients. This included tailored coverage for emerging sectors within the cannabis industry, such as infused products, distribution, and ancillary services. Notably, CannGenPRO introduced Errors and Omissions (E&O) coverage and Directors and Officers (D&O) policies to cater to the expanding needs of businesses in these sectors.

What’s in Store for 2024 at CannGen?

Looking ahead to 2024, the industry is positioned for another year of growth. The company pledges to continue its trajectory of innovation, expanding its product offerings and tailoring coverage solutions to meet the specific needs of clients across the cannabis and CBD supply chain. In addition, the company is actively exploring opportunities to extend its presence into new regions, providing essential insurance services to businesses in areas where the cannabis and CBD industries are emerging.

At the core of our mission is the goal of bringing better solutions to the market, both in terms of coverage and cost efficiency for cannabis operators. In 2024 and beyond, the company plans to leverage its ability to work closely with operators, navigating the nuances of state governments and local jurisdictions. Through this approach, we can offer specialized, tailored policies, ultimately protecting the cannabis industry in a cost-efficient manner

More Cannabis Industry News

Want to stay up to date on the latest? You can find more on important topics in the cannabis industry on our news page.

Or get more information about comprehensive insurance solutions for the cannabis, CBD, and hemp industries from CannGen here.  

Disclaimer: Information shared is for general purposes only.