Insuring Cannabis Podcast - Insurance Journal

Erich Schutz has been a cannabis insurance specialist since around the time it first became legal. He even adopted a “cannabis ninja” nickname. However, Schutz, cannabis practice leader at Jencap Specialty Insurance Services, is a father whose been going through some significant challenges. His son, Wallace David, was diagnosed with Fragile X syndrome, which can cause some degree of intellectual disability. Wally’s difficulties included anxiety, pain, and sleeping was big problem. Then, within the very industry Schutz has worked so long to represent, they found out about a CBD trial for a medication from a company called Zynerba. The four-month double blind, study ran through Boston Children’s Hospital, turned out to be a game-changer for the family.

Morgan Fox with NORML has a good handle on the current odds facing the SAFER Banking Act. But even with the world in turmoil and the eternal unrest in the House, he offered some hope for what would be a landmark reform. His Live appearance follows my recent Insuring Cannabis podcast episode, in which he goes into details on the bill and what it would mean for cannabis insurance specialists.

SAFE Banking was a much-introduced and more often-sidelined federal bill to provide a safe-harbor for banks doing business with cannabis operators. The new manifestation, the Secure and Fair Enforcement Regulation Banking Act, or the SAFER Banking Act, would ensure that state-sanctioned cannabis businesses have access to deposit accounts, and importantly, it includes insurance and other financial services. Our latest podcast episode seeks to get a handle on the bill’s odds, and possibly what’s next, with Morgan Fox, political director at NORML.

In sales, you always hear about the big fish. Conversely, catering to new companies, or what some would call business babies or startups, may seem like a chore. But Danielle Hernandez has built her business on these very young cannabis companies. A big part of it is that Hernandez, agency manager and cannabis practice leader at Gilbert Insurance Group, likes the helper/coach role. But there’s a bit of a bottom-line too, which Hernandez covered in our latest Insuring Cannabis podcast.