Professional Insurance for Cannabis Sector

The legal cannabis industry is one of the fastest-growing sectors in the United States. Already worth over $10 billion in annual sales, the economic impact of cannabis could reach as high as $77 billion by 2022, according to Business Insider.

As the industry grows, so has its insurance risks. Understandably, cannabis operations’ first insurance priorities are property and general liability (GL)/products liability; while less apparent, financial risks commonly covered under professional lines programs need to be addressed, as well. Growers, manufacturers, and dispensaries, as well as other entities along the distribution chain, need to assess four key areas of professional line coverage to ensure that they have a complete portfolio of protection. That’s how Paperless Insurance can help.

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Protecting Contractors from Economic Loss in Construction Projects

Construction spending continues to reach historic heights. According to the U.S. Census Bureau, approximately $1.3 trillion is spent each year on domestic construction projects.

The increased spending correlates with an increase in the number of construction projects being executed. This ultimately translates to greater exposure and bottom-line risk for all companies involved in the supply chain within the construction sector. These companies include but are not limited to consultants, construction and project managers, design professionals, and builders.

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Pros and Cons of Working from Home

Working from Home vs. Office: Who Gets More Done?

Telecommuting, or working from home, is becoming a popular trend in the workforce. In fact, it’s estimated that nearly 40% of full-time employees will be remote workers in the next 10 years.
In the last 13 years, the number of employees working from home at least half of the week increased by 115% (3.9 million employees in 2018, compared to 1.8 million in 2005).
So, should you let your employees work remotely? It depends.
Read More »Pros and Cons of Working from Home

Hacking of Pacemakers and Other Implanted Devices

On October 1, the Federal Drug Administration (FDA) issued a warning about the so-called URGENT/11 cybersecurity flaws that leave certain Wi-Fi-enabled medical devices vulnerable to being remote-controlled by hackers, such as cardiac pacemakers, implantable cardioverter defibrillators (ICDs) or insulin pumps.

The FDA indicated that devices potentially at risk are those utilizing IPnet, a decades-old software application that enables wireless networking. According to the statement, a successful cyberattack could allow a hacker to remotely change a device’s function, cause a denial of service, information leak or logic flaw that could lead the device to malfunction.

Although there have been no reports of such cyberattacks, the FDA pointed to a health risk for patients using one of the affected devices and advised healthcare providers to notify patients of potential risks and address the issue in conjunction with patients and device manufacturers.

Because device manufacturers have incorporated an array of configurations to IPnet and its components, the Department of Homeland Security (DHS) is unable to compile a list of affected devices. Therefore, the DHS has advised manufacturers to evaluate and report to the FDA what, if any, cybersecurity risks are posed by their devices.

“This illustrates a scale of digital risk that could not have been foreseen at the time these devices were manufactured,” said Neil Gurnhill, CEO, Node International, London, England. “Companies need to develop these products with security at the forefront of their minds. This is a potentially life or death situation that companies cannot afford to get wrong.”Read More »Hacking of Pacemakers and Other Implanted Devices

5 Risks Every School Has

…and how to lower it.

1. Harassment and Bullying Spark More Lawsuits

All school personnel should receive misconduct alertness training so they can spot the signs of abuse and intervene early.
Anonymous reporting tools can also help drive earlier intervention.

2. Title IX Expansion Increases Due Process Liability.
Title IX is a law that was meant to bar discrimination based on sex in educational program activities and athletics that received Federal financial assistance.

Higher ed institutions should have a Title IX adviser on staff who understands the law and can advise schools on the best course of action to take when a complaint is filed.Read More »5 Risks Every School Has

Questions You Should Ask Before Signing a Lease

Moving into a new rental property is such an exciting process! Sure, it’s also super time-consuming and can be pretty demanding, but finally settling in can bring so much joy.

Before signing a lease, make sure you know what you’re getting yourself into. Your lease is more than just a piece of paper with boring writing on it – it’s a legally binding contract! Most leases are pretty straightforward, but once you sign it, you’re locked in for the near future.

Here are nine important questions to ask your landlord or leasing office before signing the rental agreement.Read More »Questions You Should Ask Before Signing a Lease

Road Safety with Motorcycles

Motorcycle riders or passengers are injured or killed on average every six minutes in the United States every day, according to the National Safety Council (NSC). Even though motorcycles account for 0.6% of all vehicle miles in the U.S., they make up 14% of all traffic fatalities. Two main risks More than half of motorcycle accidents occur because a car or… Read More »Road Safety with Motorcycles

D&O Risks to Non-Profits

Non-profits file D&O claims twice as much as for-profits. Learn more about this growing risk and D&O coverage specifically designed to meet the needs of non-profits.

Why D&O Policies are Vital for Non-Profit Organizations

Running one of the 1.5 million non-profit organizations in the United States is a fulfilling and meaningful experience. It also brings significant risks and loss exposures. Every year, non-profit leaders are exposed to Directors and Officers (D&O) claims made against them and the organizations they manage.

With D&O lawsuits on the rise, more and more non-profit organizations are turning to insurance solutions and obtaining Directors and Officers Liability coverage as part of a Management Liability policy.

At Paperless Insurance Services, we have an extensive background in providing coverage for non-profits.

Understanding Management Liability Insurance

Read More »D&O Risks to Non-Profits