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Disclaimer: This article is not sponsored, nor prompted. I'm simply sharing of my own volition, to do my part in supporting attracting the best talent to the insurance industry at large, considering the current talent crisis.
There’s always something new to learn every day, and withing property insurance, there's certainly no exception!
There's a relatively new P&C avenue that is rapidly gaining momentum—cannabis insurance. As more and more state-specific legislation and rulemaking in the United States pave the way for a regulated, commercial cannabis industry, property insurance has followed. Announced earlier in 2023, there is now a certification for professionals interested in this P&C insurance topic.
ALM (the parent company of National Underwriter's FC&S, and PropertyCasualty360) released a new designation: CISC (Cannabis Insurance Coverage Specialist).
Now, I'm not a cannabis user. However, it's been really neat to see how the insurance industry has responded to each state's common-sense and thoughtful legalization, with offering insuring products that never existed before.
With the resulting standardization that has led the way for enforced safety and quality standards for growing and storage of the crop itself, and new opportunities for everyday consumers that may need it for medical reasons (or responsible recreation where lawful), there are now legitimate businesses that need to be insured!
Adjusters, appraisers, attorneys, and expert witnesses that handle commercial cannabis losses might consider getting the CISC designation from ALM.
Cannabis Insurance Coverage Specialist (CISC) Designation
For those looking to take their expertise in cannabis insurance to the next level, there’s exciting news. ALM, the global leader in specialized industry news and information, has now introduced a CISC (Cannabis Insurance Coverage Specialist) designation.
Earning the CISC designation demonstrates your proficiency in understanding the specific risks, regulations, and coverage requirements associated with the cannabis industry. It’s a valuable credential that can open doors to new opportunities and establish you as a trusted expert in this emerging market.
Another Chapter, in The Fascinating History of Insurance
The property and casualty insurance industry has a rich and storied history that spans centuries (well, thousands of years, technically). The emergence of cannabis insurance represents just one more chapter in this captivating narrative.
As the cannabis industry continues to evolve and mature, insurance professionals have an opportunity to be part
of its growth. By staying informed and leveraging resources like National Underwriter’s FC&S Expert Coverage Interpretation, you can position yourself as a trusted advisor in the exciting world of cannabis insurance. FC&S offers comprehensive insights and knowledge to get you up-to-speed on all things cannabis insurance.
To thrive in the (truly, shockingly, excitingly, and frustratingly) dynamic field of property insurance, staying informed, connecting with experts, and pursuing specialized designations like CISC are steps to consider to stay ahead.
Enjoy your week,
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