• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

MFE Insurance Brokerage

Specialty Insurance Brokers

  • Insurance Products
    • Entertainment
      • Production
      • Special Events
      • Staging & Rigging
      • Touring
    • Cannabis
    • Drone & UAV
    • Bar
    • Nightclub
    • Restaurant
    • eSports
    • Technology
    • Business
    • Health
    • Home
    • Life
  • About
    • Carriers
    • FAQs
    • Testimonials
  • Blog
  • Contact
  • Get Quote: 213-266-7990
  • Sign In
  • Apply Now

Is Your Cannabis Business Covered In Michigan?

Cannabis Insurance · March 15, 2021

magnified view of a cannabis crop usually cultivated by cannabis businesses in michiganThe cannabis industry is young and highly regulated in Michigan, especially due to how regulated marijuana has been in the past. Part of that regulation extends to insurance coverage. Insurance companies in Michigan are required to meet certain requirements of financial responsibility, particularly as it relates to covering costs related to claims of bodily injury by lawful users of your cannabis medicine or products.

Insurance Requirements For Cannabis Businesses In Michigan

The insurance requirements for cannabis businesses in Michigan include the ability to provide proof of financial responsibility for claims of bodily injury, approval of an Attestation J form and avoiding any exclusions that may cause a denial of your initial cannabis license or the renewal of your current license. The following is an in-depth review of the requirements for cannabis businesses in Michigan.

Proof Of Financial Responsibility For “Bodily Injury”

All cannabis companies in Michigan are required by the Medical Marijuana Facilities Licensing Act (MMFLA) to have the financial coverage necessary to deal with claims of bodily injury by lawful users. All companies are required to have coverage of no less than $100,000. Otherwise, their application for a license in the state of Michigan will be denied. This means any cannabis insurance policy must include the necessary coverage.

Approval Of An Attestation J Application

Attestation J is a confirmation of Section 408 Compliance of the Medical Marijuana Facilities Licensing Act (MMFLA). This form verifies to the Marijuana Regulatory Agency that the applicant for the state operating license meets the necessary criteria, which primarily includes financial coverage for claims of bodily injury that exceeds $100,000. The Attestation J form must be signed by a representative of the insurance company. If for any reason the form is denied, it does not void the coverage provided by the insurance company.

Different Types Of Exclusions For A Cannabis License

upclose view of cannabis plants that are normally grown by cannabis businesses in michiganThere are different types of exclusions for a cannabis license that may lead to the applicant being denied even if they meet the requirements of Section 408 and submit the Attestation J form. These exclusion types include but are not limited to:

  • Pollution exclusions
  • Criminal acts exclusions
  • Asbestos exclusions
  • Product/substance exclusions
  • Communicable disease exclusions

Any exclusions that apply to an applicant must be resolved before a license is issued. Companies should review the exclusion types and take action to resolve any concerns to ensure they receive the necessary coverage to operate as a cannabis business in Michigan.

What Documents Are Required To Renew A License?

If you are renewing your cannabis license in Michigan, then you are required to provide certain documentation to the Marijuana Regulatory Agency. The documents you may need to submit during the renewal process include but may not be limited to:

  • Federal and state tax returns
  • Sales tax returns
  • Proof of payments/receipts
  • Current insurance policy
  • Live scan forms

Be sure to collect these documents well in advance of when you have to submit them to avoid any delays when renewing your license. Once the documents are submitted, along with the Attestation J form, you should hear back from the Marijuana Regulatory Agency within several weeks about your license renewal in Michigan.

How To Ensure Your Cannabis Business Is Adequately Covered

You can ensure you are covered by reviewing all of the Michigan requirements for the cannabis industry. For insurance purposes in particular, be sure to choose a reputable cannabis insurance provider that can provide the extent of coverage that you need. If your insurance provider is unwilling or unable to cover claims of $100,000 or more, then your business is likely to lose coverage as Section 408 of the MMFLA requires all businesses to have this level of protection for costs related to claims of bodily injury caused by adulterated marijuana.

What To Do If Your Business Is Denied A License

If your business fails any part of the license application or renewal process, then you can correct the concern and reapply. Specifically, if your Attestation J form is turned down or you are unable to submit one due to a lack of coverage, then you should discuss adjusting your policy to meet the necessary limits. If your current insurance company is unable to accommodate your needs, then you may be required to switch providers to ensure you are able to submit a proper Attestation J form that is accepted by the Marijuana Regulatory Agency.

Work With The Insurance Professionals At MFE Insurance

cannabis businesses in michigan hire consultants for audits and assessmentsThe insurance professionals at MFE Insurance can help you determine if your company is properly covered, reducing the risk of being denied a license or renewal of your license. At MFE Insurance, we value honesty and work hard to ensure you have the policy you need to protect your business. Contact us today by phone at 213-266-7990 or message to learn more about your cannabis insurance needs in Michigan.

Filed Under: Cannabis Insurance

Previous Post: « What To Know About Attestation J In Michigan
Next Post: Hazards To Look Out For In The Cannabis Industry »

Primary Sidebar

Related Blogs

  • Is Your Cannabis Business Covered In Michigan?
  • What To Know About Attestation J In Michigan
  • What Insurance Policies Are Most Important For A Michigan Provisioning Center?
  • 4 Liabilities Michigan Cannabis Cultivators Face
  • Recreational Use & Employment Policies In Michigan
  • Regulation Of Cannabis Events In Michigan
  • How to Start a Marijuana Delivery Service in Michigan
  • What To Know About The Michigan Marijuana Regulatory Agency
  • Benefits Of Liability Insurance For Michigan Dispensaries
  • 6 Licenses Michigan Cannabis Dispensaries Should Consider
  • How the Marijuana Vape Ban Impacts Michigan Dispensaries
  • 10 Types Of Insurance You Need for Your Michigan Cannabis Dispensary
  • Should I Apply for a Michigan Dispensary License?
  • The Complete Guide To Opening A Dispensary In Michigan
  • What Does Michigan Cannabis Insurance Cover?

Get In Touch.


  • This field is for validation purposes and should be left unchanged.

Footer

Talk to a Human Now

213-266-7990

1019 E. 4th Pl.
Los Angeles, CA 90013
213-266-7990

344 N Old Woodward Ave,
Suite 302
Birmingham, MI 48009
313-395-1855

Follow Us on Social Media

Social Icon
Social Icon
Social Icon

Company

  • About
  • Blog
  • Carriers
  • Contact
  • FAQs
  • Testimonials
  • Client Portal

Insurance Products

  • Cannabis
  • Entertainment
  • Bar
  • Technology
  • Restaurant
  • eSports
  • Nightclub
  • Drone & UAV
  • Business
  • Life
  • Health

© 2023 MFE Insurance Broker · Powered by 321 Web Marketing · All Rights Reserved · Website Privacy Policy & Terms of Use