Is a cannabis patent war on the horizon?
Cannabis businesses face unique risks and challenges, and insurance slowly gaining its footing on how to properly insure this budding industry.
Rep. Nydia M. Velázquez (D-NY) and Rep. Steve Stivers (R-OH) have introduced H.R. 4074, the Clarifying Law Around Insurance Marijuana (CLAIM) Act, which would help businesses operating in the growing cannabis sector to obtain insurance products.
The CLAIM Act establishes a federal “safe harbor”, preventing federal criminal prosecution of insurers that transact with consumers and would prevent civil liability for agents, brokers and insurers that do business with the cannabis sector.
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