What should Cannabis companies look for in an insuranOSHA Electronic Reports Are Due March 2!ce provider?
Each year, the Occupational Safety and Health Administration (OSHA) requires certain employers to submit information from their OSHA Form 300A electronically. Affected employers must submit their reports using OSHA’s Injury Tracking Application (ITA).
Affected establishments include:
- Establishments with 250 or more employees, if they are already required to create and maintain OSHA records; and
- Establishments with between 20 and 249 employees that belong on a high-risk industry.
OSHA or the Bureau of Labor Statistics may require otherwise exempt establishments to submit these reports on a special, case-by-case basis.
OSHA will collect information on injuries and illnesses to identify emerging hazards, characterize specific areas of concern, or target inspection and outreach initiatives under OSHA’s emphasis program.
What Happens If We Don't Comply?
Violations for materially false, fictitious, or fraudulent statements can be punished by a fine or by imprisonment of not more than five(5) years, or both. Failure to comply with these new OSHA regulations could result in OSHA Penalties such as a $14,502 fine and trigger a more detailed OSHA recordkeeping audit.
The Department of Labor (DOL) has released its 2022 inflation-adjusted civil monetary penalties that may be assessed on employers for violations of a wide range of federal laws. These also include the Occupational Safety and Health Act (OSHA Act) so it is important that employers become familiar with the new penalty amounts below and review their safety protocols to ensure compliance with federal requirements.
Keep in mind, these increased amounts apply to civil penalties that are assessed on or after January 15, 2022.
What's in it for You?
More information from employers and more attention to safety will save the lives and limbs of many workers and ultimately help your bottom line. As your expert buyer of insurance, Spire Insurance Solutions is providing clients with an easy way to stay compliant with OSHA, at no cost to you.
- 24/7 access to seamlessly complete the Form 300, 300A and Form 100 (Workers Compensation claim reporting)
- Save time and money by reducing entry time and record keeping
- Remain compliant with OSHA rules and avoid fines and additional record keeping
- Maintain a safe workplace (which also means controlling insurance expenses)
Spire Insurance Solution's OSHA Compliance Services Overview
- Our clients have access to toolbox talks, workplace posters and hazard communication programs that can ensure that your employees stay safe around chemicals and that your business is compliant with OSHA standards.
- OSHA constantly updates its standards and requirements, and keeping track of these updates can be a job in itself. Let us worry about compliance—we can provide you with attorney-reviewed documents that outline your obligations.
Are you prepared for OSHA inspections?
- An unexpected OSHA inspection can result in thousands of dollars in fines and a tarnished reputation. Our checklists and inspection tools will help you address potential issues before an inspector makes an unannounced visit to your business.
Does your business comply with OSHA’s hazard communication standards?
- Our clients have access to toolbox talks, workplace posters and hazard communication programs that can ensure that your employees stay safe around chemicals and that your business is compliant with OSHA standards.
What Else Should Cannabis Businesses Do?
Ask for multiple options to review. Even if the cost is higher, this is part of your fiduciary duty to your organization to ensure all options have been considered. This may seem like a daunting task to take on and you may be left feeling somewhat confused with all of the insurance jargon. When working with a trusted insurance solution provider, be sure to be open and share all details of your business. Often times, clients may be tempted to withhold information in fear of increased premiums or losing coverage. The fact is, these details are very important to ensure that your operations are properly covered.
Not to mention, you also have to operate within a budget for your insurance along with other expenses. For a startup, you don’t have much revenue coming in so some difficult decisions may need to be made. Work with your insurance agent to learn about the coverage and determine if some of the coverage can be added at a later date. It is also important that you ask for clarification of all exclusions and limitations of coverage because each solution is unique.
Our Cannabis insurance solution is designed specifically for dispensaries, cultivators, extractors, manufacturers, transportation, testing facilities and lessors risk buildings. Contact us today to get started!
Contact Spire Insurance Solutions
Spire Insurance Solutions and our partners in the industry will continue to monitor and provide updates for our clients. Contact our team to do a full review of your current insurance coverage to ensure you’re compliant with state requirements and protecting your business as intended. You can click the icon below or email us at [email protected].
Want to stay up to date on the latest cannabis insurance news? You can find more on important topics in the cannabis industry on our blog.
Or get more information about insurance solutions for the cannabis, CBD, and hemp industries from Spire Insurance Solutions here.
About Spire Insurance Solutions:
Spire Insurance Solutions provides risk management solutions to both the Recreational & Medical Industry. Through a consistent approach, Spire is your expert buyer of insurance and helps companies purchase important Insurance coverages in the evolving Cannabis industry. With years over 45 years in business with experience in assessing risk, our team sees that many cannabis related businesses do not have the coverage they desperately need. Our mission is provide unparalleled and caring service to our clients through our knowledgeable staff and give back to our employees, agency, industry and our communities.
When it comes to insurance, it helps to work with an agency that has both the experience and capabilities to meet your needs. We will help you manage and plan for your potential risks. As professionals, we assess your needs and offer you a variety of insurance products to choose from. Let Spire Insurance Solutions elevate your insurance solution to help your growing business.
Disclaimer: This Blog/Web Site does not provide insurance or legal advice. This site is for educational purposes only as well as to provide you with general information and a general understanding of insurance, not to provide specific legal advice or specific contract advice. Viewing this site, receipt of information contained on this site, or the transmission of information from or to this site does not constitute a client relationship.
The information on this Blog/Web Site is not intended to be a substitute for professional insurance or legal advice. Always seek the advice of a licensed agent in your state pertaining to insurance and legal issues.
Author: Tyler Bartosh
Sources: Zywave Inc, EmergeApps – OSHAlogs
