420 with CNW – Bipartisan Senate Bill Seeks to Ease Marijuana Business Access to Insurance Services
A bipartisan bill introduced in the U.S. Senate on Monday seeks to ensure greater access to insurance policies for marijuana businesses in states where the drug is legal. The bill titled “Clarifying Law Around Insurance of Marijuana (CLAIM) Act” was sponsored by Sen. Bob Menendez (D-NJ). The cosponsors of the legislation are Sens. Jeff Merkley (D-OR), Rand Paul (R-KY) and Kevin Cramer (R-ND). Currently, federal law makes it very difficult for cannabis businesses to get casualty, property and title insurance cover regardless of the state laws on the matter. If the CLAIM Act is passed, insurance companies wouldn’t have to…