Creates certain protections for insurers and insurance producers engaging in business of insurance in connection with cannabis-related businesses.

This bill protects insurance companies and agents in New Jersey from government penalties if they choose to provide insurance to cannabis-related businesses. It prevents state or local agencies from discouraging insurers from working with cannabis businesses, canceling their policies, or taking adverse supervisory actions against them or their customers solely because of their connection to the cannabis industry. The legislation also shields insurers and their employees from liability when they engage in lawful insurance transactions with cannabis businesses, while clarifying that insurers are not required to offer such coverage and existing insurance regulations remain unchanged.