We have received text from S. 5049: Clarifying Law Around Insurance of Marijuana Act. This bill was received on 2026-07-21, and currently has 1 cosponsor.

Here is a short summary of the bill:

This bill would create a federal safe harbor for insurance companies that provide coverage or other insurance services to cannabis-related businesses that are operating legally under state, local, or tribal law.

What changes for insurers

Under the bill, a federal agency could not:

• prohibit, punish, or discourage an insurer from doing business with a legal cannabis-related business;
• cancel, limit, or terminate an insurer’s policies solely because the insurer works with legal cannabis businesses;
• pressure insurers to avoid covering cannabis businesses, or downgrade/cancel coverage, just because the policyholder is a cannabis business owner, employee, or operator;
• take adverse supervisory action against an insurer solely because it covers, insures, or leases property or equipment to a cannabis-related legitimate business.

Federal legal protection

The bill would also say that, in states, localities, or tribal lands where cannabis activity is allowed by law, insurers and their officers, directors, and employees could not be held liable under federal law or regulation solely for:

• providing insurance services connected to legal cannabis businesses; or
• reinvesting income earned from that insurance business.

What the bill does not do

• It would not require any insurer to cover cannabis-related businesses.
• It would not change state insurance regulation rules generally.
• It would not override the McCarran-Ferguson Act or the Dodd-Frank Act.

Other provisions

The bill would direct the Government Accountability Office (GAO) to study barriers faced by minority-owned and women-owned cannabis businesses, including obstacles in licensing and access to financial services. GAO would have to report its findings to Congress, along with any recommendations for reducing those barriers.

Relevant Companies

• AIG — A large insurer that could potentially expand or clarify coverage offerings for cannabis-related businesses if federal uncertainty is reduced.
• CB — A major commercial insurer that may be affected by changes in the federal treatment of insurance for cannabis-related clients.
• TRV — A property and casualty insurer that could see direct effects if it chooses to underwrite cannabis-related risks in legal markets.
• WRB — An insurer with commercial lines exposure that could be impacted by expanded clarity around insuring cannabis businesses.
• LNC — A financial services and insurance company that could be affected if the bill changes how insurers can serve cannabis-related businesses.

Senator Kevin Cramer Bill Proposals

Here are some bills which have recently been proposed by Senator Kevin Cramer:

• S.5049: CLAIM Act
• S.4835: Bureau of Industry and Security License Administration Enhancement Act
• S.4637: Conrad 30 Physician Workforce Optimization Act
• S.4587: Dietary Supplements Access Act
• S.4511: A bill to amend the Internal Revenue Code of 1986 to exclude from gross income charitable distributions from certain employer-sponsored retirement plans, and for other purposes.
• S.4197: Veterans Outdoor Rehabilitation Act

You can track bills proposed by Senator Kevin Cramer on Quiver Quantitative's politician page for Cramer.

Senator Kevin Cramer Net Worth

Quiver Quantitative estimates that Senator Kevin Cramer is worth $896.0K, as of July 24th, 2026. This is the 346th highest net worth in Congress, per our live estimates.

Cramer has approximately $0 invested in publicly traded assets which Quiver is able to track live.

You can track Senator Kevin Cramer's net worth on Quiver Quantitative's politician page for Cramer.

2030 North Dakota US Senate Election

There has been approximately $4,937,197 of spending in North Dakota US Senate elections over the last two years, per our estimates.

Approximately $130,154 of this has been from outside spending by PACs and Super PACs. Some of the groups who are spending money in this race include:

• AMERICAN HOSPITAL ASSOCIATION PAC ($75,051)
• CLEARPATH ACTION FUND, INC. ($50,375)
• NORTH DAKOTA FARM BUREAU POLITICAL ACTION COMMITTEE ($2,500)
• NORTH DAKOTA REPUBLICAN PARTY ($1,229)

You can track this election on our matchup page for the 2030 North Dakota US Senate election.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information.

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