From our 2021 Year in Review: As we welcome the new year, Kapnick Insurance reflects back to 2021 and our 75th year in business with fondness and pride. Founded in 1946 by Elmer Kapnick, our firm was originally focused on personal and small commercial insurance, but has since grown into one of the largest, most respected independent brokers in the nation.
Market Insights from Kapnick Insurance The past few years have been challenging for both businesses and the insurance industry. The increased frequency and severity of claims, social inflation, the COVID-19 pandemic, medical inflation, trends in cybercrime, the cost of reinsurance, natural disasters and investment returns have all fundamentally reshaped the insurance market as we know it.
Quick Facts: Supreme Court Stays OSHA ETS Vaccination and Testing Mandate for Large Employers, Reinstates Vaccine Mandate for Health Care Workers
On January 10, 2022, the Departments of Labor, Health and Human Services (HHS), and the Treasury issued FAQ guidance regarding the requirements for group health plans and health insurance issuers to cover over-the-counter (OTC) COVID-19 diagnostic tests. Plans and insurance issuers are permitted to implement
A cannabis surety bond can range from $5,000 to $5,000,000 and provides a financial guarantee to a state or municipality that a company will perform according to the laws and regulations governing your license. A surety bond does this in two ways: 1. By requiring companies to be bonded, additional scrutiny of company and leadership’s finances and credit ensures
While cannabis crop insurance isn’t required in all states, with the primary product of the cannabis industry being a plant, it’s important and essential to have insurance that covers every stage of the cannabis growth cycle. Yet marijuana cultivation insurance coverage isn’t something you can find everywhere—especially if you grow outdoors or use
Unsure Of Where To Start With The New Marijuana Liability Requirement? Kapnick Can Help. There is a new law in Michigan requiring marijuana liability insurance. Public Act 55 of 2021 recently amended the Michigan Regulation and Taxation of Marihuana Act. PA 55 of 2021 takes effect on October 11, 2021
Cannabis, CBD, and hemp-related organizations all have unique exposures and risk for carriers to consider. The right program will depend heavily on whether you’re cultivating, manufacturing, testing, distributing, or selling. While this is by no means a complete list, here are the top 9 cannabis business types we advise:
The US legal cannabis market is a serious industry and has grown at an exponential pace. In 2020 it was conservatively valued at slightly more than $15 billion, with sales having jumped 45% from the year before. Experts are projecting sales to surpass $30 billion
The following is a case study about how Kapnick’s Specialty Risk experts provided in-depth consultation of policies to ensure a real Kapnick client fully understood how their management liability coverage would respond in various claim scenarios to mitigate risk and add value to their business.