A bipartisan bill has been introduced to Senate to help cannabis businesses obtain insurance, just days after its introduction to the the US House of Representatives. The Clarifying Law Around Insurance Marijuana (CLAIM) Act seeks to streamline federal and state laws about insurance provided to legitimate cannabis firms by establishing a federal "safe harbour" against criminal prosecution of insurers. Without casualty, property and title insurance, the rapidly growing sector will be stunted, according to Democratic representative Nydia Velazquez, who co-introduced the bill. Furthermore, CLAIM would also require the Government Accountability Office to study racial and gender inequality in the sector.
A bipartisan bill has been introduced to the US House of Representatives to help cannabis businesses obtain insurance, just days after its introduction to the Senate. The Clarifying Law Around Insurance Marijuana (CLAIM) Act seeks to streamline federal and state laws about insurance provided to legitimate cannabis firms by establishing a federal "safe harbour" against criminal prosecution of insurers. Without casualty, property and title insurance, the rapidly growing sector will be stunted, according to Democratic representative Nydia Velazquez, who co-introduced the bill. Furthermore, CLAIM would also require the Government Accountability Office to study racial and gender inequality in the sector.