In response to Coronavirus, the National Cannabis Risk Management Association (NCRMA) is mobilizing resources to support the needs of its cannabis business members.
From increased demand to potential staffing shortages and access to capital, the fallout from the pandemic spotlights the need for sound risk management practices. The non-profit is offering expertise and guidance to help the industry through these uncertain, and unprecedented times.
“We are responding to the needs of the cannabis industry and working to provide education, support, and expertise,” said Rocco Petrilli, NCRMA’s chairman. “This pandemic has forced cannabis business owners to look at risk management more directly and take the necessary steps to protect themselves and their businesses.”
NCRMA has begun surveying its certified service partners, consolidating expertise on risk management and publishing that content on a variety of platforms. The first article can be found here. Also, the NCRMA is now curating stories from reliable news outlets, including its partner, MJBIZ Daily, on its website. That content can be found here.
NCRMA’s experts offered some key points for cannabis industry businesses to consider as they navigate this crisis in the coming weeks and months:
- Follow the rules in terms of laws and regulations for the industry and measures implemented by federal, state and local government to address the crisis
- Monitor receivables and cash flow
- Ensure that retail spaces are clean and secure and be prepared for a potential increase or decrease in customers
- When uncertain, ask an expert for advice
NCRMA provides its membership with pioneering and innovative risk management and insurance solutions through its expansive list of high-value service partners and offerings. Founded in 2018, the not-for-profit has established itself as the leader in providing cost-effective and comprehensive non-traditional risk management solutions to the non-traditional cannabis market.
For more information about NCRMA, please visit https://ncrma.net.