So, you have cannabis insurance in place but your startup is required to provide an additional insured endorsement and certificate of insurance. You scratch your head and ponder, “What the heck is that?” Let’s tackle both of these common requirements so you can take on the next big contract with ease. 1. Additional Insured … Read More
Our team encounters many different cannabis business insurance requirements. These are the coverage demands coming from your investors, landlords, business partners and other key players who all want to protect themselves as much as you do. We process these requests by asking underwriters to endorse the policy, changing the way that its coverage responds to claims. Unfortunately, … Read More
You just launched a 401(k) plan for your cannabis company’s employees and they couldn’t be more thrilled. This will help with morale and recruitment by encouraging employees to grow their nest egg with minimal effort. But with no fiduciary liability insurance or fidelity bonds, your cannabis company can be risk. That’s because employee benefit plans … Read More
You might not think cyber crimes could directly affect your cannabis company. Think again. Cyber crime is expanding so fast, the stats can barely keep up: The global cost of cybercrime will reach $2 trillion by 2019 (a threefold increase since 2015 estimate). 48% of data security breaches are caused by acts of malicious intent … Read More
This is a guest post from Amy Klimek, VP of HR at ZipRecruiter.com. Startups cannot run their businesses the way established companies can. Established companies leverage their name and stability to attract the best talent in the industry. Your startup does not have an established name or track record of stability, but you do have other principles … Read More
There’s never been a more exciting time in the cannabis-centric eCommerce space. It’s also never been more important to secure insurance for your company before you take off flying. Just the facts In 2016 alone, global e-retail sales grew 24.6 percent (compared to the previous year) making up 8.7 percent of the total retail market worldwide. … Read More
Concerned you may need cannabis product recall insurance for your startup? Chances are, you need it more than you think. In 2015 alone, federal agencies recalled 4217 products — the most ever. In the new and ever-changing cannabis startup arena, you’re likelihood of risk is substantial. What is a product recall? Product recall is “insurance coverage … Read More
The directors and officers of cannabis startups make some risky decisions. This is cannabis we are talkin’ about! Directors & officers insurance (D&O) allows them to do so more freely. This policy safeguards a company’s individual directors and officers from claims based on their decisions made while acting in a corporate capacity. And while coverage varies from … Read More
Successful venture capital funds (whether cannabis specific or not) frequently invest in a blended venture capital (VC) insurance policy to provide protection from three main exposures. These include management liability (also known as directors & officers or D&O), professional liability (also known as errors & omissions or E&O) and employment practices liability (EPL). These combined … Read More
There’s a bevy of benefits when your cannabis company uses the services of a professional employer organization (PEO). They provide convenience by allowing you to outsource your HR duties to them. PEO’s also guide you through a maze of regulations and laws that most cannabis companies don’t have time to review. From a startups’ perspective, PEO’s … Read More