CBD and Hemp Products Liability

Since 2012, the CBD and Hemp industry has grown substantially, particularly in Colorado and Washington. Overall sales within these legalized U.S industries were at about $3.5 billion in 2014. It is expected to grow to $30 billion by 2025. Thirty-three states allow use for medicinal purposes, 10 of which allow adults over 21 years old to legally purchase at retail stores for recreational purposes.

In 2019, hemp became federally legal which opened up many opportunities. The hemp industry includes cultivation, distribution, manufacturing, extraction, laboratories, retail stores & dispensaries, and ancillary businesses from landlords, consultants and trim/harvest independent contractors.

For the past 10 years, PPIB has built strong relationships with insurance carriers who specialize in the CBD and hemp space. Our underwriting staff has grown with the industry and has experience with all the different needs an insured can have.