Monthly Archive April 19, 2020

Nonprofit Organization

A Surprising Way to Promote Trust at Your Nonprofit

Though many people go to work for a nonprofit because they value the types of services they provide or causes they support, employee and volunteer trust is not necessarily a given. Creating an environment that establishes transparency in company practices helps to develop trust at all levels of the organization. One surprising way to open the doors to transparency is by encouraging incident reporting in nonprofits.

Open a Dialogue Around Risk Management

Filing incident reports is often an established procedure and employee responsibility. However, there are several reasons employees and volunteers neglect the process. As reported on, opening up communication on the shared responsibility for risk management across the organization can reduce barriers to incident reporting, such as:

  • Fear of negative impacts on an individual’s or company’s reputation
  • Concerns that issues will not be addressed
  • Fear of negative repercussions for the reporter
  • Concerns over the strength of the reporting system

Regularly inform organization personnel about the importance of filing incident reports to the improvement of company practices. When incident reports are filed, follow up with the individual who filed it, acknowledging its receipt and, if possible and appropriate, any steps that were taken to address any issues revealed in the report. Encouraging incident reporting in nonprofits helps to increase organizational transparency and employee and volunteer trust.

Marine Insurance

Common Provisions in Marina Contracts Boaters Should Know

When you buy a new boat, one thing you need to consider is storage and use. If you don’t have a dock, you may want to look at leasing space at a marina slip. Here are some things to know about marina slip contracts.

Liability Insurance

The insurance firm Merrimac Marine Insurance states that many marinas require liability insurance as part of their slip contracts. A minimum limit may be required for liability coverage. In addition, most marinas require the boat to be registered.

Use Rules

The contract likely has use rules such as boat operability. Some marinas include provisions for the number of times per year the boat must leave the slip. In fact, inoperable boats may not be allowed in some marinas.

Additional Fees

Not everything is likely to be included in the rental price. You may have to pay additional fees or line items as part of the contract not listed as the rental price. There may be fees for late-payments or early cancellation.

Termination Clauses

Most contracts include termination clauses. A common one is that if you fail to follow the rules, the marina can cancel the contract.

Understanding marina slip contracts can ensure you know exactly what you are paying for. The last thing you want is to face a fee you didn’t realize you would pay. A good contract is for the benefit of the marina and boaters.

Cannabis Industry

Coverage Confusion in the Cannabis Industry

With the cannabis industry being newly legal in most places and still illegal in others, the approach to insurance coverage can be confusing and overwhelming. Since the industry isn’t legal nationwide, each state can set different regulations for those in the business within their state lines. Regardless of what any state requires, any business owner in the cannabis industry should have a broad range of coverage for the risks they face in the business.

Coverage for Every Stage

There is a number of coverage types when it comes to cannabis trade. CannGen insurance professionals assert the importance of understanding individual business needs and finding an insurance provider that will work with a company to customize a policy that will sufficiently cover its risks. Some policy choices include:

  • cultivation insurance
  • cannabis harvesters insurance
  • manufacturer insurance
  • laboratory insurance
  • landlord and property manager insurance
  • dispensary and smoke shop insurance
  • processor insurance

Other coverage areas like building insurance, delivery, and transport, and product liability will all be important in various stages of producing cannabis products and getting them into the hands of customers and clients.

With the help of an experienced and equipped insurance expert’s help, any cannabis business, no matter how big or small, will be able to prepare for any risks it may face and ensure long term and high-quality products and services to their clientele.