IIAB San Diego Education Series - Spring 2019
Topic: Successful Risk and Insurance Strategies for the Cannabis Industry
When: March 13, 2019
8:00 - 11:00 am
Where: Handlery Hotel San Diego
950 Hotel Circle North
San Diego, CA 92108
Cost: Members - $30
Non-Members - $40
* Includes Parking and Continental Breakfast
Successful Risk and Insurance Strategies for the Cannabis Industry
3 CE Department of Insurance / Property Casualty (pending approval)
Presented by: Stephen Thompson, ARM, COSS and Daniel Garcez, AFIS
Overview of Presentation: As the cannabis industry moves from the black market into grey, and now legalized, numerous risk, insurance, and workplace safety issues face this emerging class of business. Employee exposures range from pesticides and other chemicals, ultraviolet lighting, cumulative trauma, and other agriculture, retail, and security risks. Numerous property and general liability, including cash handling continues to expose businesses to security and safety hazards.
Much work can be done by the insurance broker and carrier community with coverages and risk gap programs; however, there is much to be gained from effective loss control, safety, and effective insurance programs to meet these challenges.
Brokers, agents, and carriers continue to assess client risk and protect clients via risk management techniques which we will expand upon for the cannabis industry:
- Management and employee safety protocols and written programs
- Risk reduction strategies to include loss control and various insurance programs/coverages (risk financing)
- Risk transfer techniques that may include financing, outsourcing, and third-party vendors.
This program will outline the risks facing agents, brokers, carriers, and their clients as it relates to cannabis-industry businesses. It will also cover the recommended actions and fundamentals of protecting cannabis companies, its’ employees, and the community at large from risks and hazards associated with the cannabis industry.