Wildfire risk upends California cannabis insurance
The $5 billion industry is under threat as insurers pull out and the state-created FAIR plan fails to cover growers.
“The food-truck industry is growing tremendously,” says Marcio Pepe, president of MPX Insurance Services in Aliso, Viejo, Calif. Pepe, who specializes in eateries, has seen his food-truck business increase steadily for several years. He estimates he places coverage for 75 to 80 food truck owners, some of whom operate a half-dozen trucks.
Many food trucks are getting more sophisticated, Pepe adds. More owners are specializing in gourmet foods, so their trucks have expensive ovens, refrigerators, generators and sinks that have to be insured.
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The $5 billion industry is under threat as insurers pull out and the state-created FAIR plan fails to cover growers.
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