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News & Views: Marijuana?
Newsletter – Tuesday, June 11, 2019
Who would have guessed that one day Rob Tuscano would write a newsletter about marijuana? It’s being called a miracle drug and is widely regarded as the fastest growing industry in the U.S.
My six siblings, our spouses, and my parents all went out to dinner last week to celebrate my dad’s 92nd birthday – Happy Birthday Bill Tuscano! My brothers and sisters range in age from 58 to 69, and we are still as rowdy as ever when we get together. One of the topics that came up was medical marijuana (or just legal pot since one of my sisters lives in Colorado) and the aches and pains that come with age. So I asked them, “Do you use it?” Some replied, “If you are not treating ailments or conditions, it can’t be labeled medical marijuana.” I love my sibs – they are truly from the Age of Aquarius.
I’ve actually never had the ‘marijuana’ talk with my kids (ages 21 and 24) and that could be because I have some conflicting views on the whole matter. I do think there are some medical benefits for marijuana, and that it will cut into the pharmaceutical industry in a big and a good way – you can’t patent nature! On the flip side, I am super-conflicted about the people in jail for selling a product that the government now wants to regulate and tax. And, I also worry about people getting high legally and being irresponsible. There are just too many ironies about the subject for this brief op-ed. However, you know that it won’t be long before marijuana will be a legal product in one form or another across the United States. As for our industry, there will be plenty of new industries and risks to manage because of this one little weed.
So, do you think this might be an intro to pitch Tuscano as your go-to-market for all things cannabis? Of course – Tuscano CAN do cannabis! (Leave it to the insurance industry to sanitize the classification). In fact, it is one of our fastest growing classes of business. We are writing growers of hemp and marijuana, dispensers, as well as transportation-related risks. There is a lot of opportunity in this industry and Tuscano underwriters have the expertise and the markets to place this business. It is a quickly evolving market with new players jumping in, and seasoned players adding more enhancements and coverage all the time. Give us a call to discuss your next cannabis-related risk.
Welcome to summer. Don’t forget Tuscano loves to insure summer fun! We love to write recreational vehicles, watercraft, and summer homes by the beach! We can insure farmer’s markets, festivals, and social gatherings. And don’t forget to send us your seasonal contractors: landscapers, tree trimmers, and HVAC!
If you think Tuscano Agency is ‘still’ the little agency that could – think bigger! Tuscano is evolving too!
‘Weed’ love to hear from you soon!