CLAIM Act Clarifying Law Around Insurance of Marijuana Act
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.
This bill, SB5049, proposes to create a safe harbor for insurance companies that offer insurance to businesses involved in legal cannabis activities. Essentially, it aims to provide protection and guidelines for insurers who work with cannabis-related businesses, ensuring they are not penalized or unfairly restricted.
The bill would affect insurance companies and businesses in the cannabis industry, particularly those operating legally. By creating a safe harbor, it would allow insurers to offer coverage without fear of legal repercussions, fostering a more stable environment for these businesses.
SB5049 was introduced on July 21, 2026, and has been referred to the Committee on Banking, Housing, and Urban Affairs for further review. It is currently in its early stages of the legislative process, with no major actions taken yet. The bill's sponsors include Kevin Cramer (Republican) and Ruben Gallego (Democrat), indicating bipartisan support.
