Are you taking the risks posed by the sharing economy into consideration when you talk to your clients or companies? Are you looking for that thing that can make you stand out to the people above you in your workplace? The sharing economy is here to stay and is much more pervasive that just Uber or airbnb. Collaborative consumption, crowd-based capitalism and gig, 1099, and on-demand workers make up the sharing economy. Are you making sure that you have the knowledge to shine in this new risk landscape?

Researchers are saying that the sharing economy is the biggest puzzle currently facing the insurance industry. It changes so quickly, and coverage is needed even though the insurance industry does not have a great deal of history on which to base coverage and rates. Also, the line between personal and commercial is very blurred with the sharing economy. If a person drives for Lyft, does grocery deliveries for Instacart and rents out her car when she is not using it, does she need personal or commercial auto coverage? How are workplace injuries covered when all employment is done under a 1099 or gig basis?  How does the warehouse owner make sure he is adequately insured if he rents out unused space to others?

Watch the recording (free for members) of the eLearning webinar: Sharing Economy presented by Laurie Fite, AU, AIAM, CLP, DAE, CPIW as she gives a basic definition of the sharing economy and talks about the risks that must be taken into consideration when insuring this new way of living and working.

-submitted by Laurie Fite, AU, AIAM, CLP, DAE, CPIW

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