License & Permit Bonds

More Insurance Options Needed for Cannabis Industry

07/01/2019

As medical and recreational marijuana become legalized in more states, the cannabis industry continues to grow. Americans spent more money on legal marijuana in 2017 than coffee; the industry is expected to grow to $22.1 billion by 2022.

But not enough insurers are currently serving the cannabis industry. According to AM Best, only 25 (mostly non-admitted) insurance carriers currently offer insurance to businesses involved in cannabis. Click here to learn more.

Many are waiting until marijuana is decriminalized at the federal level, but what can marijuana-related businesses do until then?

Colonial Surety offers surety bonds for cannabis-related businesses!

Colonial Surety offers the direct and digital way to obtain surety bonds for cannabis companies.  We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print your bond from your office. It’s that simple!

Call our office at 800.221.3662 to start an application today!