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New hire

Denver International Airport officially named longtime United Airlines executive Steve Jaquith its chief operating officer, replacing Chris McLaughlin.

Jaquith will manage the airport’s largest business unit, which includes airport operations, maintenance, sustainability, parking and ground transportation.

“We are so pleased that Steve has decided to join DEN as our new COO,” said CEO Kim Day in a release. “Steve has been a DEN partner for years, and he brings significant aviation experience, enabling him to step right in and help us develop a path forward to a successful future.”

Prior to his recent appointment, Jaquith was the vice president of airport operations for United Airlines, on top of 40 years of airline experience, including managing United’s Denver hub and Rocky Mountain Region.

Recently acquired

Cornerstone Risk Solutions, a subsidiary of Denver-based insurance company IMA Inc., acquired CLIC Management NV, LLC, a managing general agent of group-based insurance programs for the legalized cannabis industry.

CLIC manages the first insurance group created for, and owned by, the cannabis industry in what’s called a “captive insurer.” IMA’s backing brings credibility to an industry that’s still illegal under federal law.

“The cannabis industry is currently valued near $20 billion and expected to double over the next three years,” said CLIC founder Chris Payne in a statement, “yet growing companies in the industry have few options for insurance. By joining forces with Cornerstone, we are creating the first risk retention group owned by licensed cannabis companies, with risk management and loss control services that meet their specialized needs.”

Captive.com states the organization’s “primary purpose is to insure the risks of its owners, and its insureds benefit from the captive insurer’s underwriting profits.”