CLAIM Act

The CLAIM Act creates a federal safe harbor that prevents government agencies from penalizing or discouraging insurers for providing coverage to businesses legally operating in the cannabis industry under state or tribal laws. The bill protects these companies, their employees, and property owners from having insurance policies canceled or facing adverse regulatory actions solely because of their connection to legal cannabis operations. It also grants immunity from federal liability for insurers who engage in this business within jurisdictions where cannabis is permitted. Additionally, the legislation requires the Government Accountability Office to study and report on barriers that minority-owned and women-owned cannabis businesses face when entering the market and accessing financial services.