Risk management and insurance specialist McNeil & Co. and the Cannabis Association of New York (CANY) have announced the launch of the Cannabis Association of New York Inc. Safety Group. The group was recently approved by the New York State Insurance Fund, with McNeil as its manager, to provide a sustainable workers’ compensation solution for the New York cannabis industry.

McNeil and CANY worked together for nearly two years to create the group in order to ensure that the New York cannabis industry had strong and effective insurance options and that risk management and loss control strategies would grow along with the rapidly changing industry.

“CANY exists to ensure New York cannabis businesses of all sizes and backgrounds have a platform for prosperity and success,” said Daniel McNeil, founder and president of McNeil. “While different in function, CANY and McNeil share similar values. That alignment and dedication to small business is what made the creation of this safety group possible.”

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“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. While establishing a cannabis business is difficult, evolving in an ever-changing industry requires a thoughtful approach to risk management and insurance. Working together with McNeil makes that happen.”