summary
Introduced
04/27/2023
04/27/2023
In Committee
04/27/2023
04/27/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to create a safe harbor for insurers engaging in the business of insurance in connection with a cannabis-related legitimate business, and for other purposes.
AI Summary
This bill, the Clarifying Law Around Insurance of Marijuana Act (CLAIM Act), creates a safe harbor for insurers engaging in the business of insurance with cannabis-related legitimate businesses. It prohibits federal agencies from taking any action to discourage, terminate, or limit insurance policies solely due to the insurer's connection to a cannabis-related business. The bill also protects insurers and their employees from liability under federal law for engaging in the business of insurance with cannabis-related legitimate businesses or related transactions permitted under state law. The bill does not require insurers to engage in such business, nor does it interfere with the regulation of the insurance industry under existing federal laws.
Committee Categories
Housing and Urban Affairs
Sponsors (5)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 04/27/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/1359/all-info |
| BillText | https://www.congress.gov/118/bills/s1359/BILLS-118s1359is.pdf |
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