CLAIM Act

HR 2984, the CLAIM Act, protects insurers who provide coverage to cannabis businesses operating legally under state law. It prohibits federal agencies from penalizing, canceling policies, or discouraging insurers for serving cannabis-related legitimate businesses (like growers, retailers, or manufacturers) in states or tribal areas where cannabis is permitted. The bill creates a federal "safe harbor," shielding insurers from liability under federal law when offering insurance to these businesses or their employees. It also directs the GAO to study barriers to financial services for minority- and women-owned cannabis businesses and report findings to Congress.