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PIA Lauds House Passage of Cannabis Safe Harbor Legislation

Measure passed the U.S. House 321-101.
April 22, 2021

WASHINGTON – The National Association of Professional Insurance Agents (PIA) has praised House passage of legislative protection from federal prosecution for insurance agents who do business with cannabis-related enterprises in states in which such businesses are legal. H.R. 1996, the Secure And Fair Enforcement (SAFE) Banking Act, passed the U.S. House 321-101 on April 19.

In addition to protecting insurance agents, the SAFE Banking Act also makes it easier for banks to offer financial services to the cannabis industry.  PIA has been working with a coalition of industry allies in support of this legislation, and we successfully advocated for  key insurance specific protections to be  included in the bill. Last week PIA reiterated our support for the legislation, and we’re pleased it passed with such bipartisan support.

Nearly every state has legalized cannabis to some degree. PIA views its position as respectful of state insurance laws; PIA and our members seek to protect independent agents from criminal prosecution for engaging in business activities that are legal pursuant to state law.

“PIA does not take a position on the legalization of cannabis and views this issue strictly as a matter of respecting state insurance laws,” said Jon Gentile, PIA vice president of government relations. “PIA will advocate for the prompt Senate passage of cannabis safe harbor legislation that protects insurance agents, and we are making the passage of the SAFE Banking Act one of our top priorities.”

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance but specialize in coverage of automobiles, homes and businesses. PIA’s web address is www.pianet.com.

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