CLAIM Act

The CLAIM Act protects insurance companies from federal penalties when providing coverage to cannabis businesses operating legally under state laws. It prohibits federal agencies from banning, penalizing, or forcing insurers to cancel policies solely because a business is cannabis-related, or because an owner, operator, or employee works in the cannabis industry. The bill also shields insurers from federal liability for offering such coverage or investing income from it, as long as the business complies with state or tribal cannabis regulations. It does not require insurers to cover cannabis businesses but ensures they can do so without federal interference. This primarily affects insurers and cannabis businesses operating within legal state frameworks, addressing a key barrier to accessing insurance.