MIAMI  Captive insurance owners need to be ready for cannabis as the industry takes off and a growing number of states legalize it for medicinal or recreational use, experts say.

Businesses are hiring increasing numbers of employees who may be using marijuana, which opens up a range of potential liability exposures, said Arthur G. Koritzinsky, managing director, captive solutions at Marsh in New York.

“Everybody is hiring employees that are going to test positive (for marijuana use) and what happens if there’s a workers compensation claim, or an auto claim or a general liability claim? There are lots of questions but not a lot of answers,” Mr. Koritzinsky said.

He was speaking Tuesday during a session at the World Captive Forum in Miami, which is sponsored by Business Insurance.

While marijuana remains illegal at the federal level in the United States, global regulations are changing rapidly, experts said.

Steven Schain, Philadelphia-based senior counsel, Hoban Law Group, said, “Marijuana investing has two forms. Either irrational exuberance or panic, and the world has followed us.”

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