Pearson Wallace Insurance, LLC
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Cannabis

Peace of Mind

 

Pearson Wallace Insurance, LLC is committed to the success of the Marijuana Industry. We provide innovative product and service solutions that protect business owner’s assets as well as reduce risks inherent in the industry.


Types of Insurance we offer:

Crime and Security

Product Liability

Worker’s Compensation

Auto Liability

Business Continuity and INTERRUPTION

Cyber Security

Employment Practices Liability (discrimination, harassment, and hiring practices)

Property and LRO


What is Risk Management?

Risk Management is a well planned and executed process designed to protect a business’s assets. It consists of identifying and analyzing exposures to risks and strategies to control those exposures. The goal of Risk Management is to protect your assets and business’s future.

Risk Management Considerations

The following summary of our risk management describes key factors and procedures that can establish business success that is both profitable and sustainable.

Crime and Security

  • Background checks before hiring employees

  • Controlled access to the business

  • Employee security training for measures both on and off premises

  • Security systems and cameras in key areas

  • Monitored separate cash and product vaults

Product Liability

  • Protocol for product tracking

  • Effective product labeling

  • Third party product testing to ensure quality

  • Third party product testing to certify the product is not contaminated

  • Preventative “Use Packaging” methods

  • Batch retention protocol

  • Third party vendors required to provide Proof of Insurance

Worker’s Compensation

  • Understand the rules and regulations in your state

  • Make responsible hiring decisions

  • Cultivate a safety culture among your employees

  • Prepare for the unexpected

Auto Liability

  • Use company owned or leased vehicles whenever possible

  • Obtain MVR’s for all drivers, with annual updates

  • Require defensive driving course completion for all drivers

  • Use a written policy on the use of vehicles (either company or personal) for business purposes

Business Continuity and Interruption

  • Keep documentation of inventory, cash on-site, sales and wholesale value

  • Document growth cycle if you grow product

  • Develop a comprehensive disaster recovery plan for loss of power, water, and other operations vital to your business

  • Develop a plan for disruption of supplier networks

Cyber Security

  • Implement procedures to ensure compliance with privacy legislation

  • Establish a consistent approach for defining, communicating, and implementing cyber-security measures

  • Stay up-to-date with latest technologies and potential cyber threats

  • Provide employees with cyber security awareness training

Employment Practices Liability (Discrimination, Harassment, Hiring Practices)

  • Conduct a formal orientation for all new employees

  • Use an employee handbook with containing clear rules and expectations of employees

  • Have a Human Resources department