Legalized cannabis represents a significant new business opportunity for the insurance industry, according to a report released Tuesday by New Dawn Risk Group Ltd., a London-based brokerage.

The insurance industry could issue more than 100,000 policies, were insurers to sell only a single policy to each active marijuana business in the United States, according to the report.

“The legal U.S. cannabis industry would pay about $1 billion in annual premiums were it insured to levels normal for other businesses,” the report said. 

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Matthew Lerner ~ BusinessInsurance.com ~