How the CLAIM Act Will Affect Insurers
Insurers providing coverage to marijuana-touching businesses could find safe harbor under the CLAIM Act.
By the end of 2019, the cannabis industry* is expected to employ more than 200,000 people and could be worth as much as $48 billion in the United States. By almost any means of measuring growth, the industry will expand by more than 30% in 2019 alone. However, despite the headlines proclaiming cannabis “legal” in a growing number of states, cannabis, in fact, remains illegal at the federal level — it is categorized as a Schedule I drug by the U.S. government, meaning a drug “with no currently accepted medical use and a high potential for abuse.”
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