While the market is dealing with these grey areas, the insurance void needs to be filled. Faced with developing regulations, inadequate loss history and inability to clearly and objectively price the risk, typical insurance carriers are generally reluctant to cover many aspects of this economy. This thus makes the role of an insurance broker as the intermediary between the insurance market and the sharing economy extremely prudent.
Price Forbes Sharing Economy Practice
At Price Forbes, we are at the forefront of this growing market by establishing a sharing economy practice dedicated to supporting and developing insurance programs for on-demand companies. Given our strong market standing and innovative approach as an independent London broker, we are able to find the necessary capacity to place your special and emerging risks by tailoring the breadth of coverage using manuscript policy forms unique to each client.
We offer the full range of services that go beyond typical general liability/mandatory covers. Because of this economy’s emerging nature, we understand that company’s in this field are price sensitive, thus by combining coverages under one package we can help take advantage of economies of scale.