Our Process


High View


Risk Mangement is a process not a product. It’s a mindset that starts at the top and has to be practiced day in and day out throughout an organization. Our goal is to give you the framework, tools, and support to ensure the success of your risk management programs.

“Risk comes from not knowing what you’re doing.”


Warren Buffet

Business Magnate

“One thing that makes it possible to be an optimist is if you have a contingency plan for when all hell breaks loose.”

Randy Pausch

Professor of Computer Science

Our Process

By controlling risk on the front end, we aim to reduce the Total Cost of Risk your organization experiences over time. We focus on identifying the specific risks your organization faces, managing your exposure through a variety of risk treatment techniques, monitoring results, and adapting where necessary.

Know The Risk

If you don’t know it’s there, you can’t control it. In this phase we scan the environment for internal and external risk factors, identify risks specific to your organization, and analyze the potential impact a given risk has on your long-term objectives.

Manage The Risk

Now that we know what we’re up against, we can decide where and how to apply a risk treatment technique. Whether we decide to avoid a risk altogether, modify the likelihood or impact of a specific risk through loss control, transfer risk via contract, insure, retain, or exploit a risk, the treatment option should ultimately align with the goals and objectives you have established for your organization.

Monitor & Adapt

Effective risk management is not a one-and-done proposition. The process must include ongoing monitoring with periodic review of results. The purpose is to determine the effectiveness of the controls that have been put in place, improve where possible, observe changes to the environment and identify emerging risks.

The Steps

In the words of Gen. George Patton, “Good tactics can save even the worst strategy. Bad tactics will destroy even the best strategy.” We don’t stop at developing a strategy. Our process doesn’t end when an insurance policy is delivered. We provide both the strategy development and tactical implementation of a comprehensive risk management program.

Risk Mapping

Working with your executive team, our Canna Risk Advisors create an executive risk profile or Risk Map that will guide the rest of the process.

We identify organizational goals and objects, establish a risk tolerance level, and set priorities. Next, we align our risk program to meet the needs of the organization and establish a framework for implementation.

Loss Control

This is where our boots hit the ground. Our team of Loss Control Consultants are available to conduct site specific safety and security inspections, physical hazard assessments and risk surveys. The data gathered during this phase will be utilized to develop and document a written safety program with policies and procedures appropriate for your organization.

Insurance Brokerage

Hempstead Risk is powered by the Crane Agency, one of the oldest and largest independent insurance agencies in the country. As an Elite Agency, Crane is known throughout the insurance marketplace as a premier partner for placing complex coverage.

By coupling your commitment to risk management with the resources of the Crane agency, you will stand out to underwriters as best in class.

Day 2 Services

Our service model does not end with the delivery of an insurance policy. Whether it’s ongoing employee training, education, safety seminars, periodic review and assessment of your risk management program, or Claims Services, our team is an ongoing and integral part of your operations.

When you work with us, you will have a Partner and Advocate in an uncertain world.

Coverage Highlights

Property & Casualty

We love surprises; just not when filing claims. When it comes right down to it, coverage matters. Policy wording can be the difference between a claim being covered or denied. Our team understands the nuances of policy language and we’ll help you make sense of what coverage your policy offers. We work with our insureds to provide customized coverage solutions.


General Liability

We live in a litigious world. When faced with a law suit, your GL policy is your first line of protection. General Liability offers coverage for claims of bodily injury and/or property damage on premises or as a result of business operations.


Commercial Property policies protect the stuff that makes your business run. Covering losses to your Facilities, Contents, Stock and loss to Business Income arising from a covered cause of loss including fire, lightning, wind, hail, and theft. 


A Commercial Crime policy typically provides several types of coverage including employee dishonesty, forgery or alteration, computer fraud, funds transfer fraud, theft of money and securities, and counterfeit money.

Transportation / Cargo

Companies lose billions of dollars a year to cargo theft and damage to products while in transport. A cargo policy can help offset the costs of physical damage or lost shipments. 

Living Plant (Crop)

Cannabis crops are extremely valuable and take time to mature. If your grow is damaged or destroyed, you risk your entire operation going up in smoke. Coverage should be designed to match your cultivation operation and growth medium.

Management Liability

Covering exposures faced by directors, officers, managers, and business entities that arise from governance, finance, benefits, and management activities. Package policies can include Directors & Officers (D&O), Employment Practices Liability (EPL), Fiduciary Liability, and Special Crime.

Workers Compensation

Covering employers for two key exposures arising out of injuries sustained by employees. Part One of the policy covers the employer’s statutory liabilities under workers compensation laws, while Part Two covers liability 

Professional Liability

Professional Liability coverage protects against liability incurred as a result of errors and omissions (E&O) while performing professional services. 

Product Recall

Product Recall provides coverage for expenses associated with recalling a product from market including brand reputation. Coverage triggers may include both involuntary (required by regulators) or voluntary recalls.

Cyber Liability & Data Breach

From malicious code, malware, ransomware, and phishing attacks, to loss of personally identifiable information, cyber liability and data breach coverage helps protect you and your customers from  cyber threats.

Auto Liability

If you have company vehicles or employees who drive personal vehicles on company time, a commercial automobile policy is a must. Coverage can include liability, physical damage, rental reimbursement, uninsured/underinsured motorist and more.

Equipment Breakdown

Equipment Breakdown coverage provides protection from loss due to mechanical or electrical breakdown of nearly any type of equipment. This coverage is typically excluded from traditional property policy forms.

Employee Benefits

Your benefits package is your #1 tool for attracting and retaining the best talent. That means you will want to offer the best benefits while keeping costs under control.

Through the Crane Agency, we can be your single-source solution for benefits consulting and cost management. We maintain strong relationships with all national and regional medical insurance companies, as well as all the major life, dental, disability, and voluntary work-site underwriters. we are committed to efficiency, transparency, and service.

  • Employee assistance programs
  • Employee wage deferral programs
  • Executive benefits
  • Global benefits management
  • Health, dental, disability and vision care plans
  • Income and asset protection plans
  • Lost time/absence management
  • Prescription drug programs
  • Voluntary benefits
  • Wellness Programs


400 Chesterfield Center

Suite 300

Chesterfield, MO 63017

© 2019 Hempstead Insurance Solutions