The CLAIM Act creates a safe harbor for insurers engaging in the business of insurance with cannabis-related businesses.
The Clarifying Law Around Insurance of Marijuana Act, or CLAIM Act, establishes a safe harbor for insurers who engage in the business of insurance with cannabis-related legitimate businesses. It prohibits federal agencies from discouraging insurers from providing insurance to these businesses or penalizing insurers for doing so. The Act also mandates a study on barriers to marketplace entry and access to financial services for minority-owned and women-owned cannabis-related businesses, with a report to be submitted to Congress.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.