Connect with us

Legal & Regulation

Velazquez Introduces Bipartisan Bill to Permit Insurance for Cannabis Businesses



Velazquez Introduces Bipartisan Bill to Permit Insurance for Cannabis Businesses

A new bill dubbed, “The Clarifying Law Around Insurance Marijuana (CLAIM) Act,” has been introduced as a way to ensure that cannabis businesses are able to get hold of the necessary insurance their products require reports Cannabis Business Times.

Put together by Rep. Nydia M. Velazquez and Rep Steve Stivers, the former shared that this action stemmed from inevitability as “insurers are understandably reluctant to provide coverage to legitimate, cannabis businesses.” She’s not surprised by the hesitancy, especially given the regulatory inconsistencies found in the federal and state laws.

She further argued that CBD insurance plays an imminent role in the overall “growth of this industry,” which will be “impeded if not blocked entirely,” otherwise.

Velazquez also gave an example which shows the extent to which one might be affected if they don’t get insurance, which went as follows:

“A legal cannabis distributor whose product is ruined from a flood or fire could lose all their capital and their livelihood. This bipartisan bill corrects these problems and I’m proud to introduce it.”

This bill isn’t the only goal set in Velazquez agenda, as she plans to do more for the minority community, stressing that said individuals, “bore the brunt of our country’s backward marijuana policies.” Besides, she wants to ensure that minorities, along with women have equal opportunities in entering the cannabis market.

Continue Reading

Ultimate CBD Guide


ultimate-cbd-products-company-guidepopular-cbd-health-benefits best-cannabidiol-guide-resources hemp guide

TimesofCBD is the most active daily CBD news publication featuring the latest cannabis industry stories and marijuana market trends. As the leader in CBD-centric content curation, we invite all readers to come for the headlines and stay for the insights. Quality is the top priority when presenting user guides, analyzing product reviews and reporting fact-checked news announcements. All information is for educational and informational purposes only. Disclaimer.

Got news? Email

Copyright © 2020 | Latest CBD News, Cannabis Guides and Marijuana Trends
Note: Always seek real additional medical advice and consultation with a professional healthcare practitioner before considering any CBD. No statements found on this website have underwent Food and Drug Administration evaluation. The efficacy of any products or claims made have never been approved by the FDA either. No products shall ever be intended to diagnose, treat or cure any disease or prevent any ailment.