James River Not Afraid to Take on Uber, Riskier Assets

By | December 8, 2014

  • December 8, 2014 at 3:46 pm
    carla says:
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    Let’s see how they handle the rape of a young woman in India by a Uber driver!

  • December 9, 2014 at 2:37 pm
    Chuck Cotton says:
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    Who would dare buy such stock in an offshore non-registered company who writes illegal insurance. NO COMPANY CAN ISSUE A PUBLIC AUTO LIABILITY POLICY TO AN UNREGISTERED GROUND TRANSPORTATION COMPANY TRANSPORTING THE PUBLIC FOR HIRE. James River has issued a general liability surplus line commercial policy to Uber and Lyft who claims coverage of a million dollars exists during the period of app/on app/off when a paying passenger is in the vehicle. Uber and Lyft have no Federal, State, or municipal permits anywhere. Their drivers neither have any permits. Insurance is a felony. 23 State Insurance Commissioners have declared the insurance invalid and the San Francisco District Attorney declared the insurance fraudulent. (see SF Chronicle). Throughout America, Uber and Lyft falsely advertise the passengers are covered with this “gap” type insurance. No claim has yet to be paid anywhere.
    Goldman Sachs, James River’s parent company is an investor in Uber and has hustle the CV boys for $2.6B with the promise of Uber doing an IPO bigger than Facebook. Uber is under major investigations and security fraud.
    This IPO is stinky.

    • December 11, 2014 at 9:21 am
      wayne smith says:
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      Why would a company need to carry licensing for transporting passengers when they own no autos? Uber is a company simply bringing people together and they own no vehicles to my knowledge. Based on comments found via an internet search, you seem to have a vendetta against Uber and the like. What is your bias?

      Lobbing lots of hand grenades for “under investigation.” Until recently, UVA was “under investigation” for rape at fraternities. Lots of things are investigated. The AG in NY has a habit of trying to extort companies using “investigations.” Lose the drama and calm down.

  • December 1, 2016 at 12:54 pm
    BOB says:
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    Why would a company need to carry licensing for transporting passengers when they own no autos?
    Easy answer Uber drivers have personal auto policies, not commercial. We were hit by an UBER and the drivers insurance company, Geico, denied just for that reason. So you contact UBER and they have coverage for those who did not get commercial policies.
    Simple drive for Uber and get into an accident and let Ubers insurance pay, saves them for a commercial policy.

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