There were winners and losers on “both sides of the aisle” in Tuesday’s 2018 mid-term elections, and since politics lately have been so incendiary across our fair country, readers may not have noticed the important news that descended from the Great Lakes State like the gently falling snow that is soon to blanket the Midwest. Michigan – the 10th largest state in America by population and the 11th by geographic size – has voted to legalize marijuana and thus the legal cannabis industry – by a margin of 56% to 44%!
As Forbes Magazine online reports it, “‘The Proposal 1 campaign boiled down into one of fact versus fear,’ Coalition to Regulate Marijuana Like Alcohol Spokesperson Josh Hovey said in a press release. ‘The data from the nine other states to have legalized marijuana made clear that regulation and taxation are a better solution. Legalization of marijuana will end the unnecessary waste of law enforcement resources used to enforce the failed policy of prohibition while generating hundreds of millions of dollars each year for Michigan’s most important needs.’
The measure will allow adults over 21 to possess, grow and use small amounts of marijuana legally. Portions of the new law allowing for licensed businesses to grow, process and sell cannabis to consumers will come online over the next year.”
The aspect about “licensed businesses” is where NCIS – National Cannabis Insurance Services – comes into the picture, since we are licensed to offer cannabis insurance policies throughout the state of Michigan to commercial ventures ranging from growers/cultivators and testing facilities to packagers, transport/delivery services, and yes, even dispensaries. With insurance policies covering everything from crop damage and property damage to product liability and even business auto coverage, NCIS is equipped to assist the new cannabis entrepreneurs who will be “setting up shops” across Michigan in order to protect their business investments and to ensure the longevity of their cannabis enterprises.
According to the Forbes reporting coverage by journalist Tom Angell, “‘Voters in Michigan sent a resounding rebuke to their state’s failed policy of prohibition and elected to follow a new, more sensible path of regulation and legalization,’ NORML Executive Director Erik Altieri said. ‘Instead of arresting thousands of citizens a year for possession of a plant, Michigan will now be able to prioritize law enforcement resources towards combating violent crime, honoring personal freedom and civil liberties, ending the racist application of weaponizing prohibition laws against communities of color, and collecting tax revenue that was previously going to black market elements and put it towards important social programs such as education and infrastructure development.’ A Gallup poll released last month found that 66 percent of Americans support legalizing marijuana, the highest level ever in the firm’s nearly 50 years of surveys on the topic.”
NCIS congratulates the state of Michigan for the new freedom and business and financial opportunities that will be coming your way very soon, and we hope the best for all the cannabis business owners who will starting off in the exciting world of the legal cannabis industry for medical and recreational use. Good luck, and contact us to discuss your insurance needs – we are always here for you with expert guidance and consummate customer care!
Please read the entire Forbes article on Michigan marijuana legislation approval here. Thanks for reading!