420 with CNW – Marijuana Business Losses During the Pandemic May Be Covered by Insurance

2020 definitely isn’t playing out how we thought it would. America started the year with record low unemployment rates but by the end of May, had lost most of the gains it had made in the past fifty years and was looking at Great Depression levels of unemployment. Small businesses have definitely been hit hard, with most of the government issued coronavirus-related measures disrupting their operations and effectively cutting off their cash flows. Although most states with legal cannabis deemed the industry essential, cannabis establishments haven’t been spared from losses.

The federal government issued disaster relief funds to be dispersed to small businesses through the Small Business Administration but due to federal prohibition, cannabis businesses have been denied access to these funds. However, this doesn’t mean you just have to grin and bear it. Insurance may be a way to reduce the financial trauma your business is currently experiencing. Business interruption insurance, for instance, covers losses from direct interruption to the insured’s operations due natural disasters or fire, and the insurer makes…

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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