Key Risk, a Berkley Company, a leading provider of workers compensation insurance products and services for employers throughout the United States, today announced the launch of a cannabis vertical, adding to an expansive list of specialty offerings.
According to Grand View Research, the cannabis market in the U.S. has seen exponential growth, driven by increasing consumer demand and supportive government initiatives. Valued at $33.60 billion in 2023, the market is projected to grow at a compound annual growth rate of 12.1% from 2024 to 2030. With the rising adoption of medical marijuana, recreational cannabis, and CBD products, the need for specialized insurance solutions in this industry has never been greater.
Travis Moose, Senior Vice President and Chief Marketing Officer, commented, “Key Risk is excited to add solutions tailored to the cannabis industry to our existing portfolio of specialty programs. We are dedicated to providing workers compensation solutions to employers in complex and unique industries. We look forward to bringing workers compensation expertise to the rapidly expanding cannabis industry.”
This new vertical demonstrates Key Risk’s commitment to innovation and its ability to adapt to emerging market trends. Key Risk aims to build long-term partnerships with cannabis employers, ensuring they have the resources and coverage needed to thrive in a competitive and evolving marketplace.
