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Easier Insurance Access for Legal Cannabis Businesses

This act aims to make it easier for insurance companies to provide policies to legitimate cannabis businesses operating under state law. This means these businesses will have better access to insurance, which can help them operate stably and grow, while also increasing the security of their operations.
Key points
Insurance companies will not be penalized or discouraged from insuring legitimate cannabis businesses.
Insurers and their employees will be protected from legal liability for providing insurance services to cannabis businesses if they operate in compliance with state law.
The act does not force insurers to offer coverage to cannabis businesses, but removes legal barriers for those who choose to do so.
A study will be conducted on barriers to market entry and financial services for minority-owned and women-owned cannabis businesses.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_862
Sponsor: Sen. Menendez, Robert [D-NJ]
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_S_862.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-18.

What are the main provisions?

Key points include:

  • Insurance companies will not be penalized or discouraged from insuring legitimate cannabis businesses.
  • Insurers and their employees will be protected from legal liability for providing insurance services to cannabis businesses if they operate in compliance with state law.
  • The act does not force insurers to offer coverage to cannabis businesses, but removes legal barriers for those who choose to do so.
  • A study will be conducted on barriers to market entry and financial services for minority-owned and women-owned cannabis businesses.
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 Sen. Menendez, Robert [D-NJ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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