The NCRMA is a Member-Centric Organization
- Join this free association for your cannabis business to be eligible for the members-only, comprehensive insurance solution, available in 2019.
- Access the exclusive risk management products offered by our service partners to mitigate your business' risk and save money.
- Take ownership of your insurance and treat it like an investment.
Our Comprehensive Insurance Solution Covers what Insurance Carriers Won’t
- The NCRMA will work with your team to ensure you have the coverages you need.
- Receive the credit you deserve for your risk management practices.
- Fewer claims and lower costs in our association risk pool allows for superior insurance coverage and rates.
The NCRMA Represents Our Members Best Interests
- The NCRMA focuses its efforts on insurance and financial regulations that benefit licensed cannabis business owners.
- The association supports the STATES Act of 2018 to remove the threat of Federal intervention.
- The association lobbies to reform the 280-e tax to alleviate the costs of running a cannabis business.
Ask your broker whether they have access to distribute the NCRMA product.
Once registered, NCRMA members will have access to exclusive product offerings from NCRMA service partners ProTect-All Solutions, Pineapple Payments, and FifthWall Solutions as well as the association insurance solution (available in early 2019).
For a list of approved NCRMA brokers or to find out how to become and approved broker, please contact Deputy Director, Charlie Hunter, at email@example.com.
NCRMA Exclusive Risk Management Partners
The NCRMA will offer a coverage-first, all-lines insurance solution for cannabis retailers, cultivators, processors, and ancillary businesses featuring the following coverages:
- Property Protector: Real Property, Business Personal Property, Business Interruption and Extra Expense, Stock Throughput (Seed to Sale), Warehouseman, Outdoor Crop, Equipment Breakdown, Flood, Earthquake, and Other various sublimit property enhancement coverages.
- Entity Protector: Cyber, EPL, Fiduciary, D&O, Crime.
- Premises Protector: General Liability, Herbicide and Pesticide Applicators, Stop Gap, and Hired & Non-owned Auto.
- Products and Professional Protector: Products Liability and Professional Liability (including CBD and Hemp risks).
- Umbrella, Auto, and Workers’ Compensation.
ProTect-All Loss Control & Safety
- Environmental Health Safety Consulting- This service comes in two forms: responding to a client need (could be for forklift training, air monitoring etc.) and a facility evaluation.
- 1a. In the case that the client wants a specific need addressed, ProTect-All provides an intensive questionnaire of the organization’s standard operating procedures, analyzes their incident data (referring to frequency of workplace injuries or equipment breakdowns) then suggests a course of action to fix the client’s issue.
- 1b. The facility evaluation also includes the questionnaire of SOP and the data analysis of the client’s risk management history, but then also includes the on-site investigative work. It is in these facility walkthroughs that the ProTect-All team can diagnose potentially hazardous risks that the client may not have previously been aware of.
- Risk Engineering- This is a new term used to refer to optimizing the design and culture of the workplace to limit injuries. It could mean restructuring where equipment and personnel operate within the confines of the organization to limit potential workplace injury. It also includes developing a culture among employees to manage and mitigate risk; employee education.
- Leadership Development- This is an educational program geared primarily towards the upper management of the facility. It is a systematic approach to keeping workers comp claims low and also features regular monitoring and assessment after the education has been provided. This is a long-term investment in the decision makers of a facility.
Debit Card Processing- This product is only available to brick and mortar cannabis retailers with some form of banking account already established. Pineapple Payments does have the means to begin banking relationships on behalf of the client, but is ideally looking for companies with banking already set up. At under 5% transaction cost, the payment processing system is competitively priced and properly monitored for Payment Card Industry (PCI) regulations. US- Based solution means there is no purchase of silver, no money laundering, involved in the processing. Omni channel solution means it can also be the PP for the attached coffee shop or general store.
FifthWall Cyber Security
- Cyber Education- This is a per employee, educational program designed to teach employees how to limit their exposure to cyber breaches. The majority of cyber breaches occur through human error (opening a malicious email or software) and thus cyber liability insurance can more easily be offered to businesses with properly trained employees.
- Cyber Monitoring Application- This is a per computer, monitoring application that first evaluates whether the business’ system has been hacked in the past, then monitors to detect any future breaches or viruses. This is the technical, preventative measure to cyber breaches.
- Cyber Crisis Hotline- This is a per business, cyber crisis hotline in which, once a breach has been discovered by the clientele, they can then immediately call the team at FifthWall to begin their plan of action to remedy the situation. Instead of the costs associated with calling legal counsel and hiring an investigative cyber security team, FifthWall can respond to the crisis immediately.