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Insurance Protection for State-Legal Cannabis Businesses: Federal Safe Harbor.

This law creates a 'safe harbor' for insurance companies providing services to legitimate cannabis businesses operating legally under state or tribal law. Federal agencies are prohibited from penalizing or discouraging insurers for working with this industry. This change makes it easier for citizens who own or work for cannabis businesses to obtain essential insurance coverage, stabilizing their operations and managing risk.
Key points
Federal agencies cannot prohibit, penalize, or discourage insurers from offering policies to state-legal cannabis businesses.
Insurers and their employees are protected from federal liability solely for engaging in the business of insurance with this sector.
Protections extend to landlords and equipment lessors who work with cannabis businesses, ensuring they maintain access to insurance.
The Act mandates a study on market barriers and access to 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: 118_S_1359
Sponsor: Sen. Menendez, Robert [D-NJ]
Process start date: 2023-04-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
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 118_S_1359.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-04-27.

What are the main provisions?

Key points include:

  • Federal agencies cannot prohibit, penalize, or discourage insurers from offering policies to state-legal cannabis businesses.
  • Insurers and their employees are protected from federal liability solely for engaging in the business of insurance with this sector.
  • Protections extend to landlords and equipment lessors who work with cannabis businesses, ensuring they maintain access to insurance.
  • The Act mandates a study on market barriers and access to 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 2025-12-26.

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