Insurance program manager McNeil & Co. and the Cannabis Association of New York (CANY) are forming a workers’ compensation safety group for the New York cannabis industry.
The two said the New York State Insurance Fund (NYSIF) recently gave initial approval for the Cannabis Association of New York Inc. Safety Group, with McNeil as its manager.
McNeil and CANY said they worked for almost two years on the project to ensure the New York cannabis industry has insurance, risk management and loss control options.
New York legalized marijuana on March 31, 2021. Since then the state has been finalizing regulations and just this week began accepting applications from people interested in being licensed to run retail stores.
“Our intention from the beginning has been to create a sustainable insurance option for the New York cannabis industry,” said Allan Gandelman, president of CANY. “To achieve our goal of an equitable cannabis industry, a risk management-focused insurance solution is paramount.”
McNeil & Co. is known nationally for its insurance programs including AdvenSure, AnimalKeepers, ASIP, ESIP, FireWatch, HOMed, WildPRO and the Bar, Tavern, Club program.
CANY represents growers, processors, retailers, prospective license-holders, sponsors, and others in the cannabis industry.