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Danna-Gracey: Cultivating Insurance Solutions for Cannabis Companies

Continued from page 32 negligence claim be made against you. general public as part of your operations, can then compare and decide which
port alternatives to the normal health- This can also include mistakes, over- it is smart to get EPLI Insurance. avenue is best for you,” says Hoehn.
care avenues. And we are right here sights or errors that are made by acci- “EPLI insurance covers claims against The cost of insurance depends on
locally. We aren’t an out of state company dent. your company for sexual harassment, which type of insurance you’re seeking.
that cannot relate to the ever changing Cyber Liability Insurance: wrongful termination and discrimina- For example, for cyber insurance,
climate of the insurance industry in the With major companies recently in the tion,” says Hoehn. “These allegations can Hoehn says that they are going to need to
state of Florida.” headlines for having their personal client come from the employees or the general know some details about what you cur-
information hacked, you want to be sure public. This insurance would cover your rently do to protect yourself, how many
Types of Insurance Protection your business is protected should that legal costs and potential payouts you files you store roughly, etc. For Medical
The types of insurance protection happen to you. Cyber liability insurance may be responsible for.” Professional Liability, they need to know
Danna-Gracey offers include: is especially important if your website Hoehn adds that General Liability how many doctors you employ, their
Workers’ Compensation Insurance: collects personal information or you sell Insurance and Commercial Property backgrounds, what coverages they may
If you have four or more employees, items online.“If you think you won’t ever Insurance are important too and as a currently have, and so on.
you are required to have workers’ com- get breached, you are wrong,” says result, they partner with some excellent “The cannabis industry is susceptible
pensation insurance. This will cover Hoehn. "It’s not a matter of if but when. individuals to get clients those coverages to the same types of claims as any med-
your employees if they get injured on the Look at the MJ Freeway cyber attack that as well. ical profession,” says Hoehn. “The liabil-
job. These rates are mandated by the happened in 2017.The attack took out ity may be a bit less since medical mari-
state but the agency has a great program their production and backup server. You Getting Your Business Insured juana clinics are recommending and not
which can get you up to 30% back in div- are storing personal client information If you want to get insured, it is a short actually prescribing but the suits that
idends annually. and it needs to be protected.” application process that Danna-Gracey incur are the same as any other.”
Professional Liability Insurance: Employment Practices Liability will gladly assist you in completing.
Professional Liability Insurance (Mal - Insurance (EPLI): “We will shop the market in order to For more information,
practice) covers your business should a If your employees interact with the present you with several offers and we visit www.dannagracey.com.

Investors Getting in on the Green Rush. How and Why?

include CanopyVentures, Phyto Partners, track these companies and research their My advice to anyone is to do your home-
Continued from page 32
and Privateer Holdings to name a few. fundamentals. work, research and understand not only
VC Funds Most recently 2 companies made head- the legalities of the industry but the com-
Venture capital funds are investment Public Markets lines with over billion-dollar valuations on panies and individuals involved.
funds that manage the money of investors A majority of the cannabis stocks are the Canadian market, MedMen $MMEN Historically there are more failures than
who seek private equity stakes in startup over the counter (OTC). These companies and The Green Organic Dutchman successes in startup companies, however,
and small- to medium-sized enterprises have either reverse merged with an exist- $TGOD both raised capital through pri- the rewards of finding the next billion-dol-
with strong growth potential. These ing listing or IPO. This allows for anyone vate offerings initially prior to being listed. lar unicorn do exist.
investments are generally characterized as to purchase equity through shares. In summary, the cannabis industry is
high-risk/high-return opportunities. In Investing in these takes a lot of research, full of creative, innovative opportunities Tom Quigley is Author of "Corporate to
the past, venture capital investments were many are not reporting and the price per for both investors and founders. Cannabis; The Green Carpet Entry."
only accessible to professional venture share is inflated due to the hype, press Currently, there are potentially billions of He co-founded Florida Cannabis Coalition
capitalists, although now accredited releases and pending regulations inflating dollars sitting on the sidelines unable to and Green Carpet Events both
investors have a greater ability to take part their fair value. There is money to be made invest in the industry due to regulations of which help educate and network profes-
in venture capital investments. The by diligent investors, however, there is and unclear legalities. This presents an sionals in the cannabis space.
cannabis space has had numerous funds also a risk. Advisory services like opportunity to the early investors; howev- He currently works as a strategic advisor
start over the last 5 years. These funds Technical420 and Marijuanastocks.com er, these opportunities do come with risk. for both startups and investors.

30 July 2018 southfloridahospitalnews.com South Florida Hospital News