Pot-dispensary boom has affiliated businesses buzzing - The Denver Post
Pot-dispensary boom has affiliated businesses buzzing - The Denver Post Until a few months ago, J.B. Woods was your standard-issue insurance agent. Auto, home, life. Would you like flood coverage with that? Then, in the middle of 2009, his phone rang: "I need insurance for my medical-marijuana dispensary," the caller said. And since that moment, few of the policies Woods has set up for clients have been standard-issue. Instead, Woods has become the guru of ganja insurance. Property insurance, theft insurance, liability insurance. Woods is now even offering crop insurance, in case a medical-marijuana harvest isn't as bountiful as expected. "They needed an insurance agent who specializes in this area because of all the complexities involved," Woods said. "We just realized that the market was unserved in many ways," said Woods' wife, Mary. The Woodses aren't the only ones. Across Colorado, as the medical-marijuana industry has boomed, so too have the businesses providing services to it. And as state lawmakers look to regulate the dispensary business, that outward economic ripple has resulted in a widening ring of people watching to see what happens to an industry they are connected to. Real estate agents scout locations for dispensaries. Contractors do remodeling work. Security companies install cameras and locks. From insurance companies and law firms to growing-supply stores and ventilation companies, thousands of business owners and employees have jumped into the medical-marijuana economic vortex, Denver lawyer Warren Edson said.
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