Blunt Business

We welcome Jay Virdi, Chief Sales Officer for Specialty Practices at HUB International, to discuss the evolving landscape of the cannabis industry and the complex world of cannabis insurance.  Jay discusses the intricacies of interstate commerce limitations and the potential scenarios if neighboring states collaborate on cannabis trade before full federal legalization. They delve into the recent DEA rescheduling of cannabis to Schedule III, its impact on the industry, and the possible effects on insurance premiums and coverage.The conversation also covers the substantial growth of HUB International's cannabis practice group, now serving over 1,000 clients with a dedicated team of more than 300 members. Jay shares insights into alternative risk financing strategies, such as parametric derivatives and captives, and the proprietary HUB Cannabis Benefits Captive designed to cover employees.Additionally, we discuss the increasing number of insurance carriers entering the cannabis market and the ongoing challen