Key Risk Launches Workers Compensation Solutions for the Cannabis Industry

Business Wire

An Innovative Addition to Robust Specialty Offerings

HIGH POINT, N.C.--(BUSINESS WIRE)-- 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.

More information regarding the cannabis vertical can be found on our website at www.keyrisk.com

ABOUT KEY RISK:

With over 35 years of proven expertise in the workers compensation industry, Key Risk delivers innovative and responsive solutions that provide our clients the freedom to do what they do best. Offering guaranteed cost options to employers nationwide, Key Risk focuses on delivering products and services within specialized verticals to assist in reducing workers compensation exposures and deliver industry-leading results.

Key Risk is a member company of W. R. Berkley Corporation, whose insurance company subsidiaries are rated A+ (Superior), Financial Size Category XV by A.M. Best Company and A+ (Strong), by S&P. Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.