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Easier Insurance Access for Legal Cannabis Businesses

This act aims to make it easier for insurance companies to offer policies to legal cannabis businesses. This means these businesses will have better access to insurance, which can help them operate and grow stably, and increase the security of their operations.
Key points
Federal agencies cannot penalize or discourage insurers from working with legal cannabis businesses.
Insurers will not be held federally liable for insuring legal cannabis businesses.
The act does not force insurers to offer policies, but removes legal obstacles.
A study will be conducted on barriers for minority and women-owned cannabis businesses to improve their market and financial service access.
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Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_2068
Sponsor: Rep. Velazquez, Nydia M. [D-NY-7]
Process start date: 2021-03-18
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CLAIM Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2068.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-18.

What are the main provisions?

Key points include:

  • Federal agencies cannot penalize or discourage insurers from working with legal cannabis businesses.
  • Insurers will not be held federally liable for insuring legal cannabis businesses.
  • The act does not force insurers to offer policies, but removes legal obstacles.
  • A study will be conducted on barriers for minority and women-owned cannabis businesses to improve their market and financial service access.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Velazquez, Nydia M. [D-NY-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Courts and Law