Page 3 - Specialty Practices: January Newsletter

…Standing in the Hall of Fame!

Hemp Farm Success!

The emergence of large-scale, outdoor hemp projects exploded in 2019. The
market valuations for finished CBD products derived from hemp has had
investors across North America funneling into the space. HUB Cannabis and
Hemp insurance experts are integral in creating unique risk transfer
arrangements for such investors and farmers.

One example of the importance of strong risk management and HUB’s unique ability for
cross-border collaboration amongst experts involves HUB Barton’s Evan Stait and HUB
Northwest’s TJ Frost and Scott Briscoe.
One of Evan’s Cannabis clients had a private investor that was interested in providing venture
capital to a 1,000 acre outdoor Hemp grow in Oklahoma. After an introductory conference
call, it was clear that the investment group wanted the peace of mind of a risk-transfer
solution to be comfortable providing any capital to the project.
After gaining an understanding of the project and associated values, Evan, TJ, and Scott
worked quickly to find a unique solution that could work as a viable risk transfer solution for
the investment group. After a 3-week period and excellent cross-border collaboration within
HUB team members, the investment group purchased a unique Parametric Insurance solution
that would pay them up to the value of their full investment. They purchased multiple policies
for the perils that concerned them the most: Excess Precipitation and Freezing Temperatures
leading up to harvest.
The weather during the past growing season was particularly sporadic in
many areas across North America. Three out of the six policies triggered
due to weather events, and just before Christmas, the investor group was
wired a large sum as a result.
All parties involved were more than happy with HUB’s expertise and risk-
transfer strategy that was implemented so quickly. Evan and team are now
firmly the go-to partner for the investor and their broader network with
multiple 2020 projects already underway.
A great example of HUB’s Specialty Practice group providing strong client advocacy, tailored
insurance solutions resulting in peace of mind.

Agribusiness & Food & Cannabis Summit

Agribusiness & Food Practice Leader, Josh Smart is excited
to work with you!
Join him and Cannabis CSO, Jay Virdi, and many others
February 11 – 13 in Burbank, CA, at the Agribusiness & Food
Practice and Cannabis Summit. Planning for this summit is
already well underway, as practice leadership works with
Sue Flom from SFD, and Amy Fogarty to build out a meaty
and relevant agenda for attending US and Canadian
practice members.
Talk to your CSO today about your attendance.

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