As a partner, co-leading our cannabis practice at CFOs2GO, I have engaged with several industry professionals serving the cannabis industry.  One of these professionals is Kevin Tarango, Leader of the Cannabis Practice of Heffernan Insurance Brokers.  Kevin shared some very exciting news I believe should be shared with all cannabis companies which need worker’s compensation insurance for their employees.  Kevin shared the following:

Heffernan Insurance Brokers officially launched the first cannabis workers’ compensation dividend program in America on October 1st, 2021. As the exclusive broker partner with Berkshire Hathaway, it offers this dividend program to the cannabis industry, nationwide.

This will change how cannabis companies buy workers’ compensation insurance!

All cannabis class code businesses are eligible for this program which is designed to allow writing multi-state operations on one master policy. All members of the Heffernan Cannabis Association are eligible for this one-of-a-kind workers’ compensation dividend program. If your workers’ compensation expiration date doesn’t renew anytime soon, that’s okay! Your company can enter the dividend program at any time. Your policy x-date can be re-written to 10/1 to match all other association members, as the dividend payout is based on this date.

Are you a small operation or a start-up? That is okay, as you still qualify for the dividend program if you are a member of the Heffernan Cannabis Association.

If you are currently insured with Berkshire Hathaway Homestate Insurance Company (BHHC) now for workers’ compensation, the only access point for a cannabis company to get paid in the BHHC dividend program is to go through Heffernan Insurance Brokers.

Don Hawley of CFOs2GO and Kevin Tarango of Heffernan Insurance Brokers look forward to hearing from you!   Check out the link to our Heffernan Cannabis Association website, which answers many questions about the Heffernan partnership with BHHC.

Don Hawley brings more than 35 years of comprehensive global financial and operational management experience to our cannabis and agricultural-based clients. Don has many years of experience in early-stage strategic planning, leading to well-thought-out business plans and related goal setting and management systems to achieve focused goals. His accounting, finance, and operational experiences include strategy development and implementation, company transformations, acquisitions and divestitures, financial and operational systems implementations, profitability, and cash flow improvement programs

Kevin is responsible for Property and Casualty business development for cannabis accounts. As the leader of Heffernan’s Cannabis Division, his core competency is structuring unique insurance programs and negotiating with insurance carriers for the best policy language and rates. Kevin is driven by helping his clients drive down costs, seeking alternative risk options, while increasing the efficiency of their insurance program to adequately protect their assets. As a top producer and thought leader in the industry, Kevin has been a keynote speaker at the CLM Houston Cannabis Conference and The Los Angeles Cannabis Cover Summit. He also pioneered the first cannabis safety association in the United States.