James Rose
Senior Vice President, Sharing Economy & Mobility Group, Marsh US
-
United States
The growth of the sharing economy is introducing new variables when it comes to determining liability, creating risks for both the companies facilitating peer-to-peer exchanges and the participants in the transaction.
Often many parties are involved in these transactions, which creates difficult questions of liability. With the addition of autonomous technology and artificial intelligence into these transactions, even more complex liability scenarios are arising.
To remain competitive in today’s rapidly changing sharing economy environment, businesses must reassess exposures, review existing coverage, and create stronger risk mitigation strategies. Taking a more proactive approach can help offset the potential for severe legal and financial consequences in the event of bodily injury, property damage, or other losses.
At Marsh, we’ll help your company create an insurance and risk management program that enables you to better anticipate and mitigate your sharing economy risks. By working with our specialists, your organization can be positioned to anticipate challenges to your business model and capitalize on emerging opportunities within this growing industry.
The US sharing economy continues to grow in its reach and popularity. With that growth, however, comes an increase in both the frequency and severity of claims against businesses.
The growing role that the sharing economy is playing in the US job market is also drawing increased scrutiny from regulators and investors. State laws and regulations are focusing on how to classify the gig workers that power the sharing economy. The classification of gig workers as employees or contractors can create new risks and liabilities for sharing economy companies.
Our US and global risk management advisors can help businesses that operate within the sharing economy make stronger financial and risk management decisions. By identifying operational vulnerabilities and establishing a proactive risk management policy that addresses emerging threats, your business will be able to drive value and lower its cost of risk.
Featured insights
09/29/2022
Mobility in a post-pandemic world: Mobility services, autonomous commercialization and last-mile delivery
COVID-19 is reshaping mobility patterns and the sharing economy around the world. This report explores these trends and discusses how risks are evolving for mobility companies.
11/11/2021
Risk in Context Podcast: Mobility after the pandemic
Marsh’s James Rose and Phil Hobson look at how the COVID-19 pandemic has affected mobility trends and how retailers, automakers, and others are adapting to changing customer demands.
07/18/2021
Differentiating with Last-Mile Delivery
In 2018, the last-mile delivery market in North America was estimated at $31.25 billion. Prior to the pandemic, it was expected to grow to $51 billion in 2022 — a projection that is probably conservative in light of current events.
FAQs
US leadership