CANNABIS
Parker, CO
Both medical and recreational uses of cannabis are becoming increasingly common, thanks to legalization efforts in a number of states. The legal cannabis market in North America reached $6.7 billion in revenue for 2016 and is projected to exceed $20.2 billion by 2021, according to Arcview Market Research.
Greenpoint Insurance Advisors got its start in 2009 by insuring one cannabis operation when the industry was just blossoming. The agency is a founding member of the National Cannabis Industry Association, and president and owner J.B. Woods regularly speaks to insurance executives on a number of industry issues.
“Marijuana companies have experienced numerous bad business deals from different industry segments, resulting in lost revenue, time and a certain amount of wariness,” Woods says. “Our priority is to treat the marijuana industry in a professional manner and regard the client as a valid, respected business. Sometimes people don’t take this industry seriously, and marijuana can conjure up a lot of stereotypes. But the truth of the matter is that our clients are astute businesspeople who have prior experience as owners, executives, attorneys, etc. The industry is interesting but complex, and we enjoy its challenges.”
