Market Insights

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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