NJ S4018

Prohibits New Jersey state and local government agencies from penalizing, discouraging, or taking adverse action against insurers and insurance producers solely for providing insurance services to cannabis-related businesses operating legally under state law.

Prevents government agencies from terminating, canceling, or limiting insurance policies, or from encouraging insurers to avoid doing business with policyholders who own, operate, or work for cannabis-related businesses.

Grants liability protection to insurers, insurance producers, and their officers, directors, and employees for engaging in insurance business with cannabis operations or investing income derived from such business.

Clarifies that the bill does not require insurers to provide coverage to cannabis businesses and does not interfere with existing insurance regulations except as expressly stated.

Takes effect 90 days after enactment.