Velázquez and Davidson Reintroduce Bill to Help Legal Cannabis Businesses Obtain Insurance
Reps. Nydia M. Velázquez (D-NY) and Warren Davidson (R-OH) reintroduced the Clarifying Law Around Insurance of Marijuana (CLAIM) Act, legislation that would protect insurers, brokers, and agents that provide services to state-legal cannabis businesses.
According to the bill sponsors, the legislation would shield insurers from federal criminal prosecution and protect insurance professionals from civil liability when serving state-licensed cannabis businesses. The bill would also direct the Government Accountability Office (GAO) to study barriers facing women and minority entrepreneurs seeking to enter the cannabis industry.
Read the full announcement from Rep. Velázquez’s office by clicking here.