WASHINGTON, D.C., September 25,
2019 -- The Independent Insurance Agents & Brokers of America (the Big
“I”) thanks the U.S. House of Representatives for passing legislation which
would protect agents and brokers who write insurance coverage for legitimate
cannabis-related businesses from criminal prosecution and civil liability. H.R.
1595, the Secure and Fair Enforcement (SAFE) Banking Act overwhelmingly passed
the House with a vote of 321-103.
“The Big ‘I’ applauds the House of
Representatives for passing the SAFE Banking Act and taking the steps necessary
to protect agents and brokers,” says Charles Symington, Big “I" senior
vice president of external, industry & government affairs. “The Big “I”
especially wants to thank Rep. Ed Perlmutter (D-Colorado) and Rep. Steve
Stivers (R-Ohio) for their leadership on this important legislation.”
Under current federal law, the
cultivation, possession and distribution of marijuana is illegal, except for
some limited research purposes. However, at the state level, all but a handful
states permit medical marijuana use in some capacity, and several states now
allow the sale of marijuana for recreational purposes.
“Now that the legislation has
passed the House, the Big ‘I’ encourages the Senate to take action on cannabis
legislation,” says Joseph Cortina, Big “I” director of federal government
affairs. “Specifically, we encourage Chairman Mike Crapo (R-Idaho) and Ranking
Member Sherrod Brown (D-Ohio) to consider the SAFE Banking Act.”
Founded in 1896, the Independent Insurance Agents &
Brokers of America
(the Big “I”) is the nation’s oldest and largest
national association of independent insurance agents and brokers, representing
more than 25,000 agency locations united under the Trusted Choice brand.
Trusted Choice independent agents offer consumers all types of
insurance—property, casualty, life, health, employee benefit plans and
retirement products—from a variety of insurance companies.