09.20.2023 - Sharing Economy
Insuring the Sharing Economy
Presented by Erin K. Luczak, CPRIA, USI
The Sharing Economy: A new social trend has arisen in the last few years, especially in the High Net Worth/Affluent space, of sharing and borrowing, instead of owning, and the concept of “collaborative consumption.” Since this is a fairly new social norm, it is hard to predict future outcomes and impacts, and makes it a grey area in the insurance space, and the ease of accessibility allows clients to unknowingly put themselves at risk.
What is the sharing economy?
Different ways affluent clients are sharing their assets
What’s the risk? (Claims examples)
Is it a personal or commercial exposure? How do you insure it and protect the client?
Attendees Comments:
A few comments from listeners:
I hadn't thought of the impact of the sharing economy on liability beyond cars and homes.
- Ann Marie F.
I had only heard of AirBNB, VRBO, and Turo. Swimply, Sniffspot, Outdoorsly, etc., were all new to me!
- Kathryn Y.
Consider asking clients if they engage in any kind of sharing as outlined in the presentation during regular reviews. Great thorough presentation!
- Richard E.
Informative seminar with a great speaker!
- Kathleen D.
I hadn't thought of the impact of the sharing economy on liability beyond cars and homes.
- Ann Marie F.
I had only heard of AirBNB, VRBO, and Turo. Swimply, Sniffspot, Outdoorsly, etc., were all new to me!
- Kathryn Y.
Consider asking clients if they engage in any kind of sharing as outlined in the presentation during regular reviews. Great thorough presentation!
- Richard E.
Informative seminar with a great speaker!
- Kathleen D.
I hadn't thought of the impact of the sharing economy on liability beyond cars and homes.
- Ann Marie F.
I had only heard of AirBNB, VRBO, and Turo. Swimply, Sniffspot, Outdoorsly, etc., were all new to me!
- Kathryn Y.
Consider asking clients if they engage in any kind of sharing as outlined in the presentation during regular reviews. Great thorough presentation!
- Richard E.
Informative seminar with a great speaker!
- Kathleen D.