sharing economy News

Tennessee: Use of Transportation Networks Could Lead to Auto Coverage Gaps

Tennessee regulators are warning automobile policyholders that participating in transportation network companies could lead to gaps in their coverage and leave them exposed to monetary damages from an accident. Transportation network companies have become increasingly popular across the country, especially …

Car-Sharing Service RelayRides to Pay $200K Penalty to New York DFS

New York State’s Department of Financial Services (DFS) announced its investigation has found that the car-sharing service RelayRides put New Yorkers at risk through false advertising, unlicensed insurance activity, and other violations. Officials said RelayRides will pay a $200,000 penalty …

Conn. Man Sues NYC Bike-Share Operator for $15M After Crash

A Connecticut man who says he was injured on New York City’s Citi Bike has filed a $15 million lawsuit against the bike-share operator.Ronald Corwin, of Westport, Conn., says he flipped over the bike after his front wheel hit a …

Chubb Sharing Economy Poll: 36% Open to Renting Others’ Homes for Vacation

More than one-third (36 percent) of Americans would rent someone else’s home for vacation, but far fewer (20 percent) would rent out their own home to others, according to a new survey sponsored by the Chubb Group of Insurance Companies. …

Association Recommends Insurance Guidelines for Carsharing Operations

An association for operators of car sharing services has developed guidelines for what insurance they should make available to consumers participating in their services. The San Francisco-based CarSharing Association released a draft liability insurance guideline for round-trip carsharing operators in …

Firms Helping Boat Owners Test Waters of ‘Sharing Economy’

Getting out on the open sea, wind in your hair, enjoying the ride with your family and friends. Then there’s the boat payments, storage fees, fuel, maintenance and repair — these costs can quickly sink the dream of boat ownership. …

San Francisco Bay Area Car Rental Startup Faces Lawsuit

Out of a tiny, green shack on a parking lot in an industrial area south of San Francisco International Airport, three teenagers are trying to change the airport car rental business. To do it, all they need are your cars, …

Wal-Mart Considers Entering ‘Sharing Economy’ with Customer Delivery Plan

Wal-Mart Stores Inc. is considering a radical plan to have store customers deliver packages to online buyers, a new twist on speedier delivery services that the company hopes will enable it to better compete with Amazon.com Inc. Tapping customers to …

San Francisco’s Car-Sharing Taxi Services Flourish Despite Regulators

Two San Francisco-based car-sharing services, including one founded by Zynga Inc. director Sunil Paul, are operating in defiance of California authorities, highlighting how regulators are struggling with a wave of start-ups that encourage people to share everything from cars to …

GM’s OnStar Car Owners Now Able to Rent Out Their Vehicles

General Motors is joining the sharing economy. General Motors announced that its OnStar subscribers can now rent out their idle vehicles through the RelayRides car sharing service, leveraging OnStar connectivity already active in their vehicles to potentially earn money to …