Garagekeepers insurance is one of the most misunderstood and complex specialty commercial lines in the insurance industry. It often gets confused with garage liability coverage which leaves many businesses not properly protected, and with about a quarter million businesses impacted, this can be problematic. However, confusion about garagekeepers is only part of the issue. The larger challenge lies with insurers trying to launch and manage this complex line.
For more than a century, cannabis has been the epicenter of an ongoing legalization debate in the U.S.; however, there has been a profound shift in that debate in the last 20 years. Although the focus of the debate has been on the use of cannabis, the perception and understanding of the plant has dramatically changed due to its medical benefits. With the majority of states legalizing cannabis, demand is high, a new market is emerging, and a new segment of insurance is budding.