23 July 2021Actuarial & underwriting

HUB launches EB captive for cannabis companies

HUB International, the full-service global insurance broker and financial services firm, has launched a new cannabis benefits captive.

HUB Cannabis Benefits Captive is an medical stop loss offering for cannabis organisations, giving an alternative to traditional employee benefit programmes. It better reflects the profile of its employees and offers greater control of healthcare costs, HUB said.

The programme is designed for cannabis employers with more than 50 insured employees with stable claims experience and a predictable cash flow. It gives employers increased purchasing power and was built in collaboration with Berkley Life and Health Insurance Company.

Jay Virdi, chief sales officer of HUB Cannabis Practice, said: "The captive is for clients who desire greater control of their employee health benefits. If clients are looking for more flexibility, transparency, claims cost control, reduced fixed costs on health benefits, renewal stability and/or to gain market leverage, this captive strategy is right for them."