Cannabis is getting bigger, and now insuring cannabis seems to be a bigger deal, too. The cannabis-focused insurance space can now be counted as part of a larger trend in recently announced business deals in cannabis.
One80 Intermediaries announced on Tuesday it has acquired Cannasure Insurance Services, an Ohio-based wholesale broker and managing general agent focused on the cannabis and hemp industry.
Terms of the deal were not disclosed.
Despite the pandemic, sales in the cannabis industry saw a massive boost last year, rising 48% to $21.3 billion. Analytics firm BDSA now forecasts global cannabis sales will grow to $55.9 billion in 2026, a compound annual growth rate of more than 17%.
Cannasure is well known in the cannabis space. The firm provides retail insurance agents with risk assessments and product offerings, which include property, general liability, excess, professional, products and completed operations liability.
Cannasure is a national wholesale broker, program manager and third-party administrator that serves cultivators, dispensaries, extractors, processors, product manufacturers, testing labs, landlords and ancillary businesses in all states where cannabis and hemp are legal. It offers coverage on a monoline or package basis.
“The Cannasure acquisition ensures that we stay at the forefront of the industry, providing unmatched protection to cannabis and hemp businesses helping them thrive,” Matthew F. Power, president of One80 Intermediaries,…
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Cannabis is getting bigger, and now insuring cannabis seems to be a bigger deal, too. The cannabis-focused insurance space can now be counted as part of a larger trend in recently announced business deals in cannabis.
One80 Intermediaries announced on Tuesday it has acquired Cannasure Insurance Services, an Ohio-based wholesale broker and managing general agent focused on the cannabis and hemp industry.
Terms of the deal were not disclosed.
Despite the pandemic, sales in the cannabis industry saw a massive boost last year, rising 48% to $21.3 billion. Analytics firm BDSA now forecasts global cannabis sales will grow to $55.9 billion in 2026, a compound annual growth rate of more than 17%.
Cannasure is well known in the cannabis space. The firm provides retail insurance agents with risk assessments and product offerings, which include property, general liability, excess, professional, products and completed operations liability.
Cannasure is a national wholesale broker, program manager and third-party administrator that serves cultivators, dispensaries, extractors, processors, product manufacturers, testing labs, landlords and ancillary businesses in all states where cannabis and hemp are legal. It offers coverage on a monoline or package basis.
“The Cannasure acquisition ensures that we stay at the forefront of the industry, providing unmatched protection to cannabis and hemp businesses helping them thrive,” Matthew F. Power, president of One80 Intermediaries,…
