sharing economy News

Marsh Launches UK & Ireland Sharing Economy & Mobility (SE&M) Industry Group

Marsh, the insurance broker and risk adviser, has launched a dedicated Sharing Economy & Mobility (SE&M) industry group in the UK & Ireland. Led by Sam Tiltman, the group brings together over 25 sector specialists encompassing insurance placement and risk …

Short-Term Rental Sites Combat Party Houses, Complaints as COVID Shuts Nightclubs

When the coronavirus pandemic shut down bars and concert halls in March, a new phenomenon was born: the vacation-rental nightclub. Professional party promoters started scanning Airbnb, Vrbo and other short-term rental sites for mansions and luxury condos for hire. Tickets …

An Insurance Lyft: CSAA Forms Rideshare Carrier; Allstate, Liberty Mutual Offer Coverage

A new carrier has joined the rideshare insurance market, offering coverage to Lyft drivers in 11 states. At the same time, ridesharing firm Lyft’s drivers now also have access to coverage from Allstate and Liberty Mutual in a handful of …

Moped Sharing Firm Revel Halts New York Service After Second Reported Death

Electric moped sharing service Revel said on Tuesday it was suspending service in New York after a string of accidents and reports of a second rider killed in the city in recent weeks. Revel said in a statement it was …

Lyft Hopes New Expert Council Improves Safety for Riders, Drivers

Lyft Inc is putting together a council of experts to advise the ride-hailing company on its safety initiatives for riders and drivers, it said in a blog post on Tuesday. The Safety Advisory Council will include representatives from the Rape, …

Airbnb Stresses Safety, Accountability in Governance Changes

Airbnb Inc. is laying the groundwork for a public market debut later this year, announcing a new corporate governance strategy that values safety, sustainability, diversity and accountability. The home-share startup has said it will track guest safety incidents, verify all …

Liberty Mutual to Insure Uber Drivers and Passengers in 7 States, Puerto Rico

Liberty Mutual Insurance will provide coverage for Uber drivers and passengers throughout New England, South Carolina and Puerto Rico as part of the company’s 2020 auto insurance programs, which became effective on Dec. 31, 2019. The move by the Boston-based …

Munich Re’s Libman Joins Liberty Mutual’s Shared Economy/New Mobility Team

Liberty Mutual Insurance has appointed Max Libman as lead underwriting consultant for its national Sharing Economy & New Mobility unit. The dedicated Sharing Economy & New Mobility practice was launched earlier this year. The practice helps ride-hailing, vehicle-sharing, car subscription …

How Brokers Influence Specialty Insurance Product Innovation

In an era of insurance transformation, where process simplification and flawless customer service are expected, innovation in policy and product is a must—especially when it comes to the non-traditional coverage aspects of specialty insurance. Whether it’s reputational, cyber, gig economy …

Why James River Insurance Dumped Uber Account

A Bermuda-based insurer that recently severed ties with an Uber Technologies Inc. affiliate said on Thursday the risk of providing driver ride-hailing coverage had become too great and that it had mispriced policies during its initial years on the account. …