_01 Conduct a root cause analysis on recent fire loss and take corrective action with updated procedures
_02 Audit the current insurance policies and provide recommendations based on specialization of cannabis property and crop insurance
_03 Perform job hazard analysis for all key functions and roll out a training schedule
_04 Implement an online learning management system to coordinate safety and compliance trainings and tailored training based on the strategy developed with the leadership team
_05 Establish a regular claims review process with a dedicated claims specialist from the OVD team while updating and implementing a transitional return to work program.
After a comprehensive audit of the insurance program, OVD was able to use their experience and carrier relationships in the cannabis space to restructure the program, increase coverage, and reduce total spend by 50% – resulting in annual savings of over $400,000. The safety and risk management plan that was implemented will continue to drive down the client’s total cost of risk year over year.
Disclaimer: Individual results will vary.