Cannabis Insurance is a requirement for any business operating in the marijuana industry, hemp industry or any cannabis ancillary business to mitigate risk and as an investment. S2S Insurance Specialists LLC is an international insurance intermediary and brokerage firm, specializing in the placement of insurance and other risk insurance services to businesses operating in the Medical And Recreational Marijuana Industry.

American Banks Missing Out On Legal Cannabis In Canada

S2S Insurance, cannabis insurance, contact Eric Rahn today, marijuana liability insurance, cannabis bankingThere are articles and news reports across the internet that recognize the money making potential in the legal cannabis industry. In the US, in states that have legalized marijuana in some form, people have invested heavily in the industry banking on big returns. People working in the trenches of the industry are starting to see early returns on their investments and they have the cash to prove it. While it is good to be rolling in dough, it is not ideal, and leads to some serious problems.

Most banks, large and small are not willing to extend their services to cannabis related businesses because of the plants status with the US government. Cannabis is listed as a Schedule 1 controlled substance in the Controlled Substance Act. As long as this federal law lists the drug as a Schedule 1 controlled substance, the financial industry will face significant challenges all the way from banking to merchant services by risking running afoul of federal law if they work with weed related businesses. The problem is not limited to the United States, it is impacting Canada as the entire country has legalized the use and sale of the drug.

Even though Canada legalized recreational marijuana and opened the door to a flurry of business activity, big banks in the United States and Canada are keeping the industry at arm’s length because of pot’s muddy legal picture in the United States.

Cannabis, while legal for recreational use in nine US states, and Washington D.C., remains illegal under US federal law. American banks have largely stayed away from providing services to the industry because federal regulations prohibit lenders from working with any business that deals in illegal drugs. Lenders could face money laundering charges in the United States if they do.

But banks could be missing out on a bonanza. The marijuana industry is expected to grow substantially in the next five years, with sales in the United States expected to hit $23.4 billion by 2022, according to cannabis market research group Arcview. Canadian sales are expected to hit $5.5 billion.

cannabis insurance specialists, s2s insurance specialists, legal cannabis, dispensary insurance, marijuana insuranceStill, most of the largest banks remain on the sidelines for now — even in Canada, where banks have to worry about potential compliance issues abroad. The American Bankers Association, the US industry’s powerful lobby, has said it wants Congress to resolve the conflict between federal and state laws so banks aren’t stuck in the middle, though it doesn’t have a position on legalization itself. Right now, banks that do decide to take a chance and quietly work with marijuana businesses are expected to file suspicious activity reports for every transaction related to those accounts — a huge and potentially expensive logistical headache. TD Bank (TD), the Royal Bank of Canada and Bank of Montreal (BMO), all of which have an international presence, declined to comment for this story.

As long as cannabis is considered a Schedule 1 controlled substance there will be an inherent risk to working in the cannabis industry. Not only are there legal risks, but because normal financial services are not available, you’ll  be dealing in cash which posses it’s own set of problems. Your business could be targeted for theft and robbery, which may come with property damage and more. If you are considering or already involved in a cannabis related business, you need a risk management strategy. Reach out to S2S Insurance Specialists and talk with Eric Rahn about your business and risk management strategies.

read more at cnn.com

How To Navigate Legal Cannabis For Employees | S2S Insurance Specialists

Canada has legal cannabis and other countries will likely follow suit soon. Advocates for legal cannabis site the potential health benefits and a positive impact for many involved in the criminal justice system due to cannabis. While for those in Canada legalization represents a certain level of freedom, there are still restrictions and regulations that everyone should keep in mind before they consume cannabis in any form.

S2S Insurance, eric rahn, cannabis industry, cannabis insurance, legal cannabis, who insured cannabis companies, cannabis employer liabilityWhile legal cannabis means the number of cannabis related crimes and arrests should dramatically fall, what about employers and jobs? Some are asking the question; how are employers handling the legalization of cannabis? In Canada many are treating legal cannabis much like they do alcohol. It comes down to liability. Employers are responsible for providing a safe work environment, and employees have a responsibility to come to work fully functional and not impaired. Typically it is not a good idea to come to the office or work site after having three or four cocktails, likewise it’s probably not a good idea to show up after taking consuming marijuana. GZ.com talks about the issue more in depth below.

For office jobs, the message is that essentially, nothing has changed: You’re expected to show up sharp enough to perform on the job. Unless you have a legitimate prescription for medicinal marijuana, the workplace does not need to accommodate your cannabis habit.

No. [The company] is responsible for the well-being of all our people in the workplace – intoxication or impairment in the workplace is unacceptable and legalization of recreational cannabis does not change that. Impairment or intoxication is also strictly forbidden while operating any [company] owned motor vehicles.

S2S Insurance, eric rahn, legal cannabis, dispensary insurance, marijuana employer liability, cannabis insurance specialistsRecreational cannabis is treated like any other controlled substance, such as alcohol, and the purchase and consumption (in all forms) both publicly and privately is regulated by Provincial Legislation and the Cannabis Act.

Finally, because so many Canadian jobs require travel to the US, the memo notes that employees are responsible for staying compliant with US immigration laws about both personal use of marijuana and any investments in a cannabis company. “This applies for business travel to other countries as well,” it says.

This is about liability, not morality, he says. In some workplaces, rather than have an accident occur because a policy was too lenient, a company would rather have employees take action against an organization to prove that its policy is overly prohibitive, perhaps a violation of a person’s rights and freedoms. Then an outside decision-maker might force management to loosen restrictions.

For employers, firing an employee over impairment isn’t as straight forward as one may think. While an employer may have cause for termination, if an employee is dealing with a substance abuse issue, the employee could have cause to bring a labor dispute relating to medical and or mental health discrimination. It’s important for employers  to review their employer’s protection liability along with their worker’s compensation policies to determine their level of risk in these instances. If you do not have one or both of these policies, reach out to Eric Rahn of S2S Insurance Specialists and he can help get you protected.

read more at qz.com

Cannabis Industry Top Paying Jobs

The beauty of the cannabis industry is that as it becomes less taboo, more opportunities will arise for more individuals to profit in the flourishing field. Not everyone involved in the cannabis industry can be a dispensary owner or a cannabis grower. There is a need for budteneders, bud trimmers and cannabis insurance providers like S2S Insurance Specialists. While these jobs are all important and require certain skills, there is also a demand for jobs that require a more advanced skill set and knowledge. These jobs are more than likely to turn into careers for those qualified, and not just part time jobs while in school.

The jobs cannabis industry employers are most eager to fill usually require chemistry, botany, and/or engineering degrees. The jobs deal heavily with the science of manipulating the cannabis plant for a desired product or effect. Many of these higher skilled positions can pay in the six figure range for larger companies with all signs pointing towards long term job security.

S2S Insurance, cannabis industry, david rahn, marijuana industry, cannabis professional liability insurance, marijuana jobs

Budtenders, who sell marijuana to customers at dispensaries, typically make about $14 an hour. The job requires an in-depth knowledge of cannabis strains and products and a bartender-like rapport with customers. In Colorado and also Michigan, where medical marijuana is legal, budtenders are required to have licenses.

The greatest demand, according to James Yagielo, co-founder and owner of the Florida-based headhunter HempStaff, is for master extractors. They process the active components THC and CBD from marijuana and hemp to make oils, concentrates, edibles and other products.

The master extractor at Acme Elixirs, a producer of THC and CBD chews and vape pens, earns $250,000 a year, said founder and CEO Peter Pietrangeli. But he said that even with that level of pay it’s hard to recruit and keep these workers “because after a while they’ll get the funding to build their own labs.”

Becoming a master extractor requires a PhD in biochemistry with a background in engineering, which means there’s a small pool.

He said job seekers with degrees in botany, chemistry or pharmacology are the next generation of master growers and lab directors. Like master extractors, lab directors and master growers can earn big dollars.

“I know some master growers who make more than $200,000. They’re valuable,” said William Simpson, CEO of Golden Leaf Holdings, an Oregon-based chain of dispensaries, cannabis farms and manufacturers. “That is going to be a very sought after, difficult position.”

Elad Spiegel, director of cultivation and breeding for Golden Leaf, said his annual pay is $120,000. He has a bachelor’s in plant science from Hebrew University in Jerusalem and started working in the cannabis industry in his native Israel before joining Golden Leaf in 2015.

cannabis insurance, s2s insurance, david rahn, cannabis industry, marijuana professional liability insurance, cannabis insurance specialistsHaving a master extractor or master grower can be a benefit for a growing cannabis company. But, like anything in business there is risk involved. Certain professionals, because of their expertise, are held to a higher standard of liability due to the impact of their potential mistakes. These professionals are well trained and skilled at not making mistakes, but they do happen. If a mistake does happen, you as a business owner want to be prepared. Eric Rahn of S2S Insurance asks a simple question when potential clients waiver on cannabis insurance, “When the shit hits the fan can you afford to clean up the mess?” Professional liability insurance is designed to protect professionals against liability incurred as a result of errors and omissions in performing their professional services. This protects the professional, and with the right risk management strategy, can protect your business as well. Contact S2S Insurance Specialists today to see what we can do for your cannabis business.

read more at money.cnn.com

The SEC May Find Your Marijuana Company Negligent in Cyber Fraud Cases

The enthusiasm towards the marijuana industry is palpable. The cannabis space is growing at a remarkable pace and both voters and legislators are going through the slow process of adapting laws to make room for the industry in the mainstream. However, it is easy for a marijuana company to get lost in the enthusiasm and lose sight of the bigger picture. The reintroduction of cannabis into the mainstream at this time, an era where technology is advancing at a speed most people are challenged to keep up with, presents risks any cannabis entrepreneur should stay current with on a consistent basis. These are the sorts of risks that only the proper marijuana insurance policies may be able to cover. Many companies may feel they have solved their cyber security problems by having anti-virus software throughout their network of company computers. But, many cyber attacks have little to do with the vulnerabilities present in a computer, but instead with the users of the computers.

SEC cyber security report, Marijuana company, marijuana data breach insurance, s2s insurance, eric rahn, marijuana insuranceRecently, the SEC issued a warning to mainstream publicly traded companies that they will soon have little tolerance for negligence in maintaining cyber security. While the advancement of technology is swift, companies have now had decades to become accustomed to electronic financial transactions and the criminal efforts to fool companies into making deposits into fraudulent accounts. Sections 13(b)(2)(B)(i) and (iii) of the Securities Exchange Act of 1934 (“Exchange Act”) requires that companies “devise and maintain a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorization,” and that “(iii) access to assets is permitted only in accordance with management’s general or specific authorization.”

marijuana company, cannabis email fraud, marijuana cyber security insurance, eric rahn, s2s insurance, who insures marijuana companies, cannabis insurance specialistsIn the SEC report, none of the companies referenced, which lost nearly $100 million in total to cyber fraud, were found to be guilty of negligence. However, the report is a clear warning by the SEC to these companies and others, that anything but the strictest protocol for tracking transactions will be sufficient for publicly traded companies moving forward in order to protect investors. Hardly any of the funds stolen from these companies were recovered. To have a reparation filed against a company by the SEC for negligence in accounting controls on top of losing millions of dollars would scare shareholders away. The incidents referenced in the report involved the simple use of email. In some cases, an email address was created that looked like an official request for payment from an executive at a vendor. On the surface the email may have looked official, but employees working in processing plainly rushed through their tasks without reading emails thoroughly, or they would have likely identified discrepancies. The other cases involved hacking into company email accounts and manipulating financial ledgers. The criminals blended future transactions into the their look-alike vendor accounts with legitimate future transactions. The SEC’s point should be well taken. The stolen funds were ultimately due to the fact that the companies were not following their own sets of checks and balances and failed to identify the scams, when a diligent eye would have caught them.

marijuana company, s2s insurance, david rahn, cyber security insurance, cannabis insurance specialistsNow, if we take a look at the cannabis industry, the vulnerabilities to these sorts of attacks seem obvious. Cannabis companies have much more to track on their own due to the federal Schedule 1 status of marijuana. A marijuana business does not have the benefit of bank record keeping to track transactions since most banks refuse to accept the funds of a cannabis company in fear of violating anti-money laundering laws. Granted, cyber attacks like the ones identified in the SEC report rely upon electronic transactions, therefore a cash business would not be the target of this specific sort of cyber crime. However, as long as a criminal can isolate a flaw in a company’s tracking of financial transactions, they will see an opportunity to steal. Should the federal government look to legalize cannabis, and banks do start accepting the funds of the marijuana industry, then cannabis companies may be the biggest target of all. Phases of transition are where mistakes are most likely to occur, and hackers know it.

Tracking products all the way from seed to sale is not only happening in the cannabis industry. With the creation of blockchains that are commonly associated with cryptocurrency, comes a means to create verifiable ledgers for all sorts of transactions that are not centralized and therefore are not as easy to hack. So, if you want to know that you are eating a tomato grown on a certain farm in the United States, the tracking system can confirm where the tomato was grown and where the seed came from. To do this, a strict log of all transactions must be kept and quickly verified by third parties. Any discrepancy in that log throws up red flags and any fraudulent transactions can be rooted out quickly. It is this sort of organized tracking that is the way of the future and intended to eliminate these very sorts of fraudulent cyber attacks. While the advancement of technology provides new and different opportunities to steal, it also provides solutions.

marijuana company, S2S Insurance, David Rahn, blockchain technology, seed to sale, cannabis insurance specialists

The unfortunate incidents cited by the SEC in their report shows that human involvement is still very necessary when it comes to accounting and logging transactions. It is necessary for all protocol to be be followed exactly on a consistent basis in order to prevent these sorts of breaches that can result in the loss of millions of dollars. Computers are nothing without people still, which means that human error will continue to be a factor. However, cyber security or data breach insurance for a marijuana company can counter those financial losses. It is up to the pioneers of the cannabis industry to set the standard, once marijuana goes completely mainstream, by recognizing cyber threats and continuously staying updated on new threats. Things are happening fast, and should marijuana become rescheduled or even descheduled, then a multi-billion dollar industry will suddenly be thrust upon the banking sector. Clever criminals will identify this transition phase as a time when sloppy accounting and other slip ups are likely to happen leaving cannabis companies vulnerable to cyber attacks.

Eric and David Rahn of S2S Insurance Specialists understand these cyber risks well. With over two decades of working experience in mainstream business and watching technology advance at such a rapid pace, they can help you understand the cyber security risks of your marijuana company. They can review with you the cannabis company data breach policies that would most benefit your company. Contact Eric and David Rahn, the cannabis insurance specialists, for more information.

Medical Cannabis and Tips On How To Use It

S2S Insurance, Eric Rahn, marijuana insurance, medical marijuana dispensary insurance, marijuana lab testing insuranceThere are a number of different reasons people are happy to see views on cannabis change. Some people like the idea of being able to use the plant for recreation without having to worry about breaking the law. Other people see the potential financial boom that could come from legalization and want to be in on the rush before the rest of the investing world catch wind. There are also those who see cannabis as a medical wonder drug. Medical cannabis has been shown as a possible aid to a number of different ailments and medical problems. Legalizing medical cannabis provides an option to people that want to try non traditional medicines to help with their various medical issues. Many states that are legalizing medical cannabis have strict rules in regards to access. There are also a number of things a new medical cannabis user should know before going to their local dispensary. Here are some tips for those new to medical cannabis.

For starters, always make sure to bring your medical cannabis card with you when going to a dispensary. In states where patients must register to be able to obtain cannabis via a dispensary we highly recommend that you keep your identification card with you at all times. No dispensary in places where registration is required by law, will sell any cannabis to anyone that does not have the appropriate credentials. In fact, you won’t even be able to get through the front door.

Also, once you have your card do your best to avoid delaying having it renewed. Since most locations where medical cannabis is allowed require that you make a follow-up appointment with your doctor in order to re-register, you will want to plan ahead of time in order to avoid any lapses in coverage that could potentially leave you without access to your medicine. We would recommend beginning the renewal process at least 30 days out from your card’s expiration date to hopefully sidestep any snags.

Be sure to do your homework before you even go to the dispensary for the first time. While your friendly local budtender will be happy to help with any questions that you may have, it is always a good idea to do some research with regards to what type of cannabis strains and/or products would work best for the condition(s) that you are looking to treat. This way you will be well prepared for your first dispensary shopping experience, making it easier for everyone involved. If the dispensary you choose has a website, be sure to check it out as most will have at least some of their inventory available for you to peruse ahead of time.

S2S Insurance, Eric Rahn, cannabis insurance, medical cannabis, dispensary insurance, marijuana product liability insuranceIf you are looking to get into the cannabis business and you think that medical cannabis is the way to go, don’t forget about cannabis insurance. States have strict rules regarding testing, labeling and who you can sell to. It is not only important to know these rules but protect your cannabis business with a marijuana insurance policy in case something out of your control happens and your faced with sanctions from a state agency or a law suit from a disgruntled customer. Eric Rahn and the professionals at S2S Insurance Specialists can help you put together a risk management strategy to protect you and your cannabis business investment. Contact them today!

read more at thenationalmarijuananews.com

The History of Cannabis – A Quick Look At The History of the Plant

The cannabis industry in the United States and across the world continues to expand at a rapid pace. Canada, Jamaica, Argentina, Spain, The Netherlands, even Russia have either decriminalized cannabis for personal use or legalized recreational use, growing and the sale of cannabis. There are many other countries and regions where legalization and decriminalization are happening as well. As the world becomes more accepting of cannabis and begins to remove the stigma, we should take a closer look at the history of cannabis.

s2s insurance, eric rahn, cannabis history, cannabis insurance, marijuana lab testing insurance, liability insurance for cannabisMuch of the reasoning behind the legalization of cannabis deals directly in the history of cannabis. Cannabis is not something that hippies discovered for the first time during Woodstock. The use of cannabis in medicine can be tracked as far back as 5,000 years ago to Asia. It showed up in the Americas with the first European settlers because of it’s textile uses. Below is an excerpt from “A Complete History of Marijuana, According to Scientists” found at Marijuana Moment.

Before its medical properties became known, the fibrous plant was commonly used for textile manufacturing. Archeologists have discovered “sophisticated plaited basketry” based on cannabis at Czech Palaeolithic sites, for example.

“In fact, it has been referred to as the oldest known cultivated fibre plant and even today it is used as a constituent of fishing nets,” the researchers, who are from Italy and Sweden, wrote.

There are a couple schools of thought on this topic. But from a “Western-centered viewpoint,” researchers generally believe that natural events caused the plant to be accidentally burned, inadvertently revealing its “psychotropic nature.”

There’s certainly room for debate on this, but the researchers said that the timeline started about 5,000 years ago in China. The so-called “father” of Chinese agriculture, emperor Chen Nung, included the plant in the first Chinese pharmacopeia. That text said cannabis was prescribed for “fatigue, rheumatism and malaria.”

Marijuana didn’t show up on American shores for thousands of years after it was first discovered. It was “not known in the Americas until the ar

rival and settlement of the first European colonists,” according to the researchers. “During this period [cannabis] was used primarily for the strength and the resistance of its fibres.”

Swedish botanist Carl Linnaeus coined the term “Cannabis sativa” in the middle of the 18th century, the researchers wrote. Subsequently, French naturalist Jean Lam

ark distinguished between Cannabis sativa and Cannabis indica, writing that the former was a European plant and the latter came from “Indian origin varieties.”

history of cannabis, S2S Insurance, David Rahn, marijuana crop insurance, dispensary insurance, cannabis recommendationsThis snippet of the history of cannabis tells us that it has been around a long time with many uses and possible benefits. What the history of cannabis also tells us is that we are likely only scratching the surface as to what the full benefits of the plant are. Due to the Schedule I status of Cannabis, which makes it a controlled substance in the United States, there has been limited ability for scientists to study cannabis. Legalization of cannabis allows for scientists to take the history of cannabis and use modern scientific testing technology and knowledge to understand the plant and its benefits better. At S2S Insurance Specialists, we not only want to help you with your risk management needs, but we are also cannabis legalization advocates. A better understanding of the history of cannabis, the benefits of cannabis and the legal implications of cannabis, assists us in helping our clients in this complicated field. Contact Eric Rahn today for your cannabis business risk management needs.

read more at marijuanamoment.net

THC Amounts The Same In Different Cannabis Strains According To Study

If you are in the cannabis industry chances are you know what the letters THC stand for. Tetrahydrocannabinol, also known as THC, is the principal psychoactive constituent of cannabis. THC is specifically listed under Schedule I by US federal law under the Controlled Substances Act for having “no accepted medical use” and a “lack of accepted safety.” According to Gallup’s most recent poll, 66% of American voters and everyone in the cannabis industry in the United States or worldwide, will tell you they strongly disagree with this classification of THC and the reasoning behind it. In order to change the United States government’s view on THC and other countries, it is important to understand this component of cannabis.

THC, Eric Rahn, cannabis insurance specialists, s2s insurance specialists, marijuana chemistryOne way to begin to have a better understanding of THC is to figure out how much of it is in cannabis? That is exactly what research from UBC’s Okanagan campus set out to do and was able to come to a conclusion. The research from the Canadian university determined that many strains of cannabis have virtually identical levels of tetrahydrocannabinol (THC) and cannabidiol (CBD), despite various claims and names given in the unregulated and regulated markets.

“It is estimated that there are several hundred or perhaps thousands of strains of cannabis currently being cultivated,” says Professor Susan Murch, who teaches chemistry at UBC Okanagan. “We wanted to know how different they truly are, given the variety of unique and exotic names.”

Cannabis breeders have historically selected strains to produce THC, CBD or both, she explains. But the growers have had limited access to different types of plants and there are few records of the parentage of different strains.

THC, S2S Insurance Specialists, marijuana insurance, cannabis lab testing insurance, understanding marijuana“People have had informal breeding programs for a long time,” Murch says. “In a structured program we would keep track of the lineage, such as where the parent plants came from and their characteristics. With unstructured breeding, which is the current norm, particular plants were picked for some characteristic and then given a new name.”

The research shows that most strains, regardless of their origin or name, had the same amount of THC and CBD. They further discovered that breeding highly potent strains of cannabis impacts the genetic diversity within the crop, but not THC or CBD levels.

“A high abundance compound in a plant, such as THC or CBD, isn’t necessarily responsible for the unique medicinal effects of certain strains,” says Mudge. “Understanding the presence of the low abundance cannabinoids could provide valuable information to the medical cannabis community.”

Cannabis has been around a long time, but many scientists and cannabis enthusiasts believe there is a great deal we still don’t know about the plant. An understanding of the amount of THC in various strains is not only interesting but can help states and countries make more sensible laws when it comes to regulation. This information can help cannabis testing labs establish more accurate baseline amounts of THC when testing cannabis for various reasons. At S2S Insurance Specialists we not only provide risk management strategies for cannabis companies, we are advocates for the legalization and safe use of cannabis. Contact Eric Rahn of S2S Insurance today for assistance with your cannabis business risk management strategy.

read more at phys.org

Best Places To Grow Cannabis In The US

Many people are looking for ways to get into the growing cannabis industry. The potential is vast from cannabis dispensaries, cannabis lab testing facilities, edibles, infused drinks, oils and more. The one area people can also look at in this growing industry is actually growing cannabis. The obvious key to the industry is the actual plant, and the only way to have more cannabis is to grow cannabis. That being said, not all soil and growing conditions are created the same, so where are some of the best places to grow cannabis in the United States?

Leafly put together a list of the top five regions in the united states to grow cannabis and S2S Insurance Specialists thought we’d share it along with a few thoughts on how to protect your crop once you figure out if you are in a good place to grow cannabis and enter the world of marijuana.

Grow cannabis, S2S Insurance, Eric Rahn, marijuana insurance specialists, who insures marijuanaCalifornia’s lush, rugged northwest territory—dubbed the Emerald Triangle—is akin to the New York Yankees and their history-leading 27 championships. The region’s balmy Mediterranean climate and vast swaths of sloping mountainsides have made it a premiere growing location, akin to France’s Burgundy and its contribution to making wine.

Ranking second in indoor cannabis production behind California, Washington the Northwest territory proves to be a formidable rival to Oregon despite its more precipitous location on the west side of the Cascade Mountains. Areas nearby Seattle are dampened by heavy rain and lack of sunlight, leaving most growers to cultivate more sativas and early-flowering hybrids. However, towns east of the Cascade range get much better sunlight, while all parts of Washington benefit from the rich soil and abundance of fresh water.

Ranking 4th in indoor production, Oregon is a fantastic state for cultivation due to its relaxed personal cultivation laws and ease of entering the commercial industry. Naturally, the state grew way more cannabis than it even needs. Price declines have spelled trouble for many farmers, but consumers have rejoiced in $50 legal ounces, more than 80% cheaper than Califor

nia bud in 2018.

The East Coast may be notorious for low quality buds, but the Northeast can actually provide decent conditions for outdoor growing, namely Maine. Humid summers combined with a shorter fall season might not be ideal, but early-harvesting strains such as indicas or hybrids can benefit from the nurturing soil and the extremely fresh water.

Grow cannabis, Eric Rahn, S2S Insurance, marijuana crop insurance, dispensary insuranceGrowing cannabis is like any other form of agriculture and requires knowledge, skill, patience and a bit of luck. The luck comes into play when weather and other variables out of your control enter the picture. S2S Insurance Specialists can help take luck out of the equation by providing a risk management solution tailored to your needs. Some of the regions mentioned above are threatened by hurricanes, fires, and other real threats to agriculture and especially cannabis. Crop insurance, property casualty insurance and cargo transportation insurance are all options to help you with your grow operation. Contact Eric Rahn of S2S Insurance Specialists to discuss your risk management plan and to help protect your investments of time, money and energy.

read more at leafly.com

What Cannabis Directors and Officers Can Learn From Elon Musk

Cannabis business owners and managers wear multiple hats as they venture into the developing industry of cannabis. They have taken on the responsibility of growing their business which will not only impact them but anyone that has invested in their dream and shares in the successes and failures. Cannabis business owners have to make decisions that will increase revenue, market share, create exposure to new customers, improve customer service, and multiple other decisions that enhance the business. When decisions are made that harm the business, and therefore harm investors, someone must be held responsible for that harm. Those people who we hold responsible for making sound business decisions are the directors and officers of a company or corporation.

Marijuana Business Director and Officers Liability Insurance, Eric Rahn, S2S Insurance, David Rahn, cannabis insurance specialistsElon Musk is an extreme example of how a CEO’s decision making can put him or her in the sites of disgruntled investors, or in the case of publicly traded companies, the SEC. The Securities and Exchange Commission protects investors and the markets which people invest their hard earned money into every day. Musk sent out at hasty tweet that millions of people saw (many of which who invest in his company’s stock) and it impacted the price of his stock. The problem with the tweet is that it was not true or completely accurate. It became public and again his company’s stock price was impacted in a negative way causing investors to lose money.

The Securities and Exchange Commission has sued Tesla CEO Elon Musk for securities fraud after his aborted attempt to take the company private earlier this summer. The complaint, filed in federal court in the Southern District of New York, shows that the SEC is seeking to ban Musk from being able to hold officer or director positions at publicly-traded companies, as well as any other damages the court feels are appropriate.

“Musk knew or was reckless in not knowing that each of these statements was false and/or misleading because he did not have an adequate basis in fact for his assertions,” they write. “Musk knew that he had never discussed a going-private transaction at $420 per share with any potential funding source, had done nothing to investigate whether it would be possible for all current investors to remain with Tesla as a private company via a “special purpose fund,” and had not confirmed support of Tesla’s investors for a potential going- private transaction.”

Eric Rahn, David Rahn, Marijuana D&O Insurance, who insures the marijuana industry, cannabis insurance specialistsFor cannabis business owners, Elon Musk’s situation is extreme but does show the impact directors and officers can have on a business. As your cannabis business grows and the value of your investors’ investments grow, each decision you make will be that much more scrutinized. Executives and higher level managers can protect the company and themselves by investing in Directors and Officers insurance. D&O insurance policies protect you as a director or officer of the company if your actions negatively affect the company’s profitability or if the company is sued because of your actions. The policy will pay for legal damages and fees. As always policy coverage limits do apply so talk with a cannabis insurance specialist like Eric Rahn of S2S Insurance today.

read more at theverge.com

Worker’s Compensation Insurance, A Key Component For Cannabis Business Owners

Cannabis business owners have a great deal of responsibility when running a cannabis business. Aside from the day-to-day business dealings with inventory, revenue, compliance, employee relations and more. Often certain aspects of insurance needs and requirements can be overlooked. One of those requirements is worker’s compensation insurance. For those that don’t know, worker’s compensation is a state mandated program that provides certain benefits for employees that suffer injuries or illnesses on the job. In many states the program provides coverage even if the employee is at fault, or put another way, if the employee causes the injury and the injury is job related.

s2s insurance, eric rahn, workers compensation, cannabis insurance, dispensary insurance, cannabis lab testing insuranceWorker’s compensation programs covers most work related injuries typically unless an employee is intoxicated or under the influence of an illegal drug. That last detail can come into play for cannabis business owners and their employees because of the Schedule I classification of cannabis which deems marijuana as an illegal drug similar to cocaine or heroin. This possible exception is why it is critical that cannabis business owners work with experienced cannabis insurance specialists like Eric Rahn of S2S Insurance Specialists when reviewing and investing in worker’s compensation policies for their business. Worker’s compensation will pay for diagnosing and treating your injury, and will also pay hospital and medical expenses that accompany that diagnosis. Some state worker’s compensation programs may also pay for rehabilitation, retraining, and other benefits.

The U.S. Occupational Safety and Health Administration is proposing $225,046 in penalties against a Colorado manufacturer for machine safety hazards after an employee was killed while working on a forging machine.

OSHA issued citations to Vforge Inc. in Lakewood for two willful and two serious safety violations for failing to develop lockout/tagout procedures, provide adequate machine guarding and train employees in a language they understand. OSHA also placed Vforge in the Severe Violator Enforcement Program.

The citations say that an employee who had almost no ability to communicate in English was killed while servicing a press at Vforge’s factory on March 23. He had not been trained on proper safety procedures.

“Employers are legally required to implement appropriate procedures and provide training to protect their employees’ safety,” stated OSHA Englewood Area Office Director David Nelson. “This tragedy could have been prevented if safety measures were in place to prevent machinery from starting while being serviced.”

s2s insurance, eric rahn, workers compensation, cannabis insurance, who insures the marijuana industry, marijuana insurance specialistsNot all employers are required to have worker’s compensation coverage. The state where your business is located will dictate the requirements for worker’s compensation coverage. Employer’s responsibility to provide coverage often depends on how many employees it has, what type of business it is, and what type of work the employees are doing. It is important to note that every state excludes certain types of workers. To learn more about what your specific state requires and what exclusions exist in your state you should contact a cannabis insurance specialist at S2S Insurance for information specific to your situation. Not having worker’s compensation coverage, or not having proper procedures in place to protect your employees can cost employers thousands of dollars in court costs, fines, and penalties. It is important as a cannabis business owner to have a risk management strategy that includes worker’s compensation coverage.

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