Workers Compensation for Marijuana Businesses

Mark StraussBusiness | Commercial Insurance, Worker's Compensation

When you have employees you need to make certain your Marijuana Business Insurance program includes workers compensation insurance. This covers the state mandated benefits for medical expenses and lost wages to employees injured in the course of employment, in exchange for mandatory relinquishment of the employee’s right to sue their employer for the tort of negligence. This trade off is … Read More

Restaurant Insurance Rates – How They Are Determined With The Rating Plan

Mark StraussBusiness | Commercial Insurance

At a recent renewal meeting with a client, the question was asked, “how are my restaurant insurance rates determined”? The easiest way to explain how restaurant insurance rates are determined is to start from the beginning which is to first address the underlying fundamental rating criteria which is called the rating plan. The Insurance Rating Plan All insurance companies have … Read More

Earthquake Insurance Claims | Learn Claim Best Practices

Mark StraussBusiness | Commercial Insurance, Individual | Personal Insurance, Loss Control Ideas

Recent earthquake claim denials in Oklahoma and the 60 minutes segment about FEMA’s denial of flood insurance claims titled “The Storm After the Storm” highlights what might be that brutal aftereffect that awaits the status of earthquake insurance claims from the predicted Cascadia Subduction Zone rupture. Per the 60 Minutes report “the biggest ticket item inside a claim, for a … Read More

Marijuana Edible Dosage and False Advertising Claims

Mark StraussBusiness | Commercial Insurance, General Liability

Advertising and labeling of marijuana edibles was one of the key talking points at the OLCC Community Listening Meetings on Marijuana. Businesses involved in marijuana edible production not only have a product liability risk for fear that consumption of the product might cause bodily injury, but they could also face false advertising claims of not having the marijuana edible dosage … Read More

Purchasing a Professional Liability Extended Reporting Period

Mark StraussBusiness | Commercial Insurance, Professional Liability | Error's & Omissions

An existing client recently contacted me and advised that they would be selling all shares of their business to a new individual, as a result of this possible change I advised them of their duties to consider the purchase of the professional liability Extended Reporting Period. The first thing you need to understand is that most professional liability policies are … Read More