119th (2025–2027)
S. 5049
The CLAIM Act creates legal protections for insurance companies that provide coverage to cannabis-related businesses operating legally under state and tribal law. The bill prevents federal agencies from penalizing, discouraging, or limiting insurers that offer policies to cannabis manufacturers, producers, dispensaries, and other legitimate cannabis businesses, as well as their employees and property owners who lease to them. It also shields these insurers and their employees from federal criminal liability solely for engaging in the insurance business with cannabis-related companies. The legislation does not require insurers to offer cannabis coverage and preserves existing insurance regulations under the McCarran-Ferguson Act and Dodd-Frank. Additionally, the bill directs the Government Accountability Office to study barriers to entry and access to financial services for minority-owned and women-owned cannabis businesses and report recommendations to Congress.