Your #1 Provider For
Compliance and Insurance issues with cannabis
KannaRiskManagement was established decades ago (later sold) for health care entities: hospitals, doctors and generic pharmaceutical companies; Cannabis having a very similar, challenging, market entry because of insurance non-availability and statutory compliance issues. We worked to help get those pharma companies off the ground, safely to market and compliant with state and federal authorities. KRM is dedicated exclusively to the cannabis business from seed to sale. As a member of the cannabis community, your organization has fiscal, legal and moral responsibilities to:
- Your board of Directors
- Consumers (in-store and out)
- State Laws governing compliance for the industry: Each state has separate rules and regulations
- Current Federal laws and inevitable forthcoming ones
- The insurance carriers that will underwrite, ie., evaluate your firm for all of the coverages you need
- Your vendors
KannaRiskMgt. is an Independent company and DOES NOT sell insurance but acts as a Third Party Administrator (TPA) for claims, in conjunction with your retail insurance broker and makes certain with it’s trained, degreed and certified staff professionals that your organization:
- is in COMPLIANCE with current and new legislation: both Federal and State,
- has PURCHASED appropriate levels of insurance protection at an appropriate price, and bought the coverages from rated A+++ or better carriers,
- REMAINS in compliance with regulations governing the industry on a state by state basis,
- REGULARLY monitors premiums, claim costs and defense lawyer fees
- HELPS to select a financially well-financed reputable broker and an insurer(s) with stability in the cannabis marketplace
- UTIILIZIES a KRM staff member to call 24/7 on issues that arise unexpectedly, and who is familiar with your existing or new account.
What keeps you awake at night?
“Compliance. There are so many separate rules and regulations that you have to follow in each individual state. It’s not just cannabis regulations. It’s the federal regulations, the EEOC [ Equal Employment Opportunity Commission] issues, wage labor laws, and all of those types of things. It’s so broad in need for focused compliance in an industry that’s managed in a patchwork-quilt type of way that I’m fearful, what are we missing?”
– Leah Heise, Chief Experience Officer
Taken from Cannabis Dispensary Magazine | July – August 2019
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