As New York takes quickly unfolding steps toward orchestrating an inclusive and equitable cannabis industry, New York’s Office of Cannabis Management (OCN) announced this week that the state will seek to assist emerging businesses in fulfilling their workers’ compensation, disability, and paid family leave requirements.
The campaign, led by the New York State Insurance Fund (NYSIF), will help these companies guide their workers’ compensation programs, and ensure that their workers are fully protected if they are injured on or off the job. The New York State Insurance Fund is a governmental insurance carrier that provides workers’ compensation and disability benefits for employers.
“As New York’s newest business market opens to reflect Governor Hochul’s bold vision for advancing equity in the cannabis industry, scores of startups and established businesses in the cannabis supply chain will need the same protection for their workers that any other business requires, including workers’ compensation, disability, and paid family leave coverage,” said Gaurav Vasisht, executive director & CEO of NYSIF. “As a state entity with over a century of experience supporting new markets, NYSIF looks forward to helping entrepreneurs meet their insurance needs and comply with these mandatory requirements.”
Insurer teams with advocacy group
Risk management and insurance specialist McNeil & Co. and the Cannabis Association of New York (CANY) have partnered with the NYSIF to create the CANY Safety Group, which will manage workplace protections for cannabis workers in New York. CANY is a group of entrepreneurs who advocate for laws and regulations that support the vision of a New York cannabis industry that is restorative, sustainable and inclusive. The NYSIF gave approval for CANY’s Safe to work with McNeil to provide a sustainable workers’ compensation solution. McNeil and CANY worked closely for almost two years designing cost-effective insurance options, risk management and loss- control solutions.
“Our intention from the beginning has been to create a sustainable insurance option for the New York cannabis industry,” says Allan Gandelman, President of CANY. “To achieve our goal of an equitable cannabis industry, a risk management-focused insurance solution is paramount. While establishing a cannabis business is difficult, evolving in an ever-changing industry requires a thoughtful approach to risk management and insurance. Working together with McNeil makes that happen.”
Parties seeking information about joining the Cannabis Association of New York Inc. Safety Group, should contact Derek Davis, chief marketing officer, McNeil & Co. at 800-822-3747 or inquire at www.mcneilandcompany.com/cannabis.Advertisement
Cannaconvo with Peter Su of Green Check Verified
Cannabis Last Week with Jon Purow interviews Peter Su of Green Check Verified. Peter Su is a Senior Vice President with Green Check Verified, the top cannabis banking compliance software/consultancy in the space. A 20+ year veteran of the banking industry, Peter serves on the Banking & Financial Services committee of the National Cannabis Industry Association. He chairs the Banking and Financial Services Committee for the NYCCIA & HVCIA. He is an official member of the Rolling Stone Cannabis Culture Council. And, he is on the board of the Asian Cannabis Roundtable, serving as treasurer.