Chicago – Hub International Limited (HUB), a leading full-service global insurance broker and financial services firm, announced today the launch of HUB Cannabis Dispensary Insurance, accessible through HUB’s digital commercial insurance platform, streamlines the way medical or recreational cannabis dispensary in every legal market in the U.S. secures business insurance coverage. Today’s announcement marks HUB’s ongoing commitment to expand its digital product portfolio for small businesses, who want a digital-first experience supported by human interaction and advice. It also demonstrates HUB’s ongoing collaboration with MGAs, wholesalers and carrier who want to bring their products to market in a digital environment.
Cannabis dispensaries face significant risks, including crime, property damage, product liability and general liability. In the U.S., existing cannabis insurance options for retailers are limited, and the process to secure insurance can be challenging.
“Through HUB Cannabis Dispensary Insurance, dispensaries can now easily and quickly get quotes and buy online insurance coverage to protect them, stay ahead of the rapidly changing industry’s risks and give them confidence in the coverage to ensure their property and products are well protected,” said Jay Virdi, Chief Sales Officer of HUB Cannabis Practice. “HUB is intimately familiar with the intricacies of the cannabis industry and now offers an efficient way to secure reliable and affordable coverage options and rates for cannabis dispensaries.”
HUB Cannabis Dispensary Insurance offers the following coverages:
General Liability: Coverage for bodily injuries and property damage claims.
Product Liability: Coverage for legal expenses associated with claims that a product sold, made or distributed caused an injury or property damage.
Commercial Property: Coverage for the building and its contents, including owned or leased equipment, and outdoor fixtures, such as fences and signs — are damaged or destroyed, theft of merchandise or vandalism.
HUB Cannabis Dispensary Insurance is powered by Insureon, HUB’s marketplace for online delivery of small business insurance, and is underwritten by SafeHerb, a full-service MGA, that provides comprehensive property casualty protection for those involved from seed to sale in the cannabis and hemp industries. Insureon was acquired by HUB International in early 2022 demonstrating a significant step in the scale and depth of HUB digital capabilities.
“We are leveraging our technology to provide a unique and seamless digital experience, one that helps cannabis dispensary owners gain access to HUB Cannabis Dispensary Insurance and all of their commercial insurance needs within minutes and manage coverage all online,” said Jeff Kroeger, Insureon’s President. “Bringing insurance solutions to market in a digital-first environment is an ongoing priority and partnerships with SafeHerb is a great step as we continue to work with MGAs, wholesalers and carriers to make more available on our platform for all industries.”
With HUB Cannabis Dispensary Insurance, HUB continues its commitment to providing tailored insurance solutions designed to best manage its cannabis clients’ risks and insurance needs. Visit HUB Cannabis Dispensary Insurance for more information.
About HUB InternationalHeadquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 15,000 employees in offices located throughout North America, Hub’s vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit Hub Media Center.
