Cannabis, cyber and COVID-19 – the three Cs may have more in common than meets the eye.
Cannabis dispensaries, now considered essential businesses in many states, have stepped up deliveries, curbside picksups and online ordering to service customers during the pandemic.
But in doing so, they are facing greater cyber risks and an insurance market in which it’s difficult to find coverage.
Demand for cannabis has continued to increase in recent years. BDSA, a provider of cannabis industry market research, this week issued a report showing 2019 legal cannabis sales globally grew by 46% to $14.8 billion, up from 16% growth in 2018.
As they’ve grown these businesses have become increasingly sophisticated, and have had to become even more so during the crisis, where stay-at-home orders have asked citizens to reduce trips, according to Chris Boden, cannabis and life sciences practice group team leader with wholesaler Crouse & Associates.
“A lot of the dispensaries have gone to online ordering, delivery, and curb-side pick-up models,” Boden said. “And they’re realizing more and more of their organization is run online.”
Deliveries require dispensaries to obtain…
