2012 looks to be a year buzzing with opportunity—in the medicinal marijuana industry.
“When you look at the loss ratios of this industry, based on real guidelines and real applications, it becomes very profitable,” said Mike Aberle, national director for Statewide Insurance Services. “I foresee the admitted and preferred markets coming into this eventually.”
Seventeen states and the District of Columbia have legalized medicinal marijuana (MMJ) and seven more (Illinois, Massachusetts, Missouri, New York, New Hampshire, Ohio and Pennsylvania) may join them by year's end, either legalizing MMJ through laws in state legislature or through ballot initiatives.
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