Senate Bill Would Shield Insurers Covering Legal Cannabis
Senators Kevin Cramer and Ruben Gallego introduced the Clarifying Law Around Insurance of Marijuana (CLAIM) Act, legislation that would establish federal protections for insurance companies providing coverage to state-legal cannabis businesses. The proposal would prevent federal agencies from penalizing or discouraging insurers from serving cannabis-related businesses operating in compliance with state law. The bill would also direct the Government Accountability Office to study barriers that minority-owned and women-owned cannabis businesses face in accessing financial services.
Read the full Insurance Business America article by Regielyn Santiago by clicking here.