Ride-sharing companies such as Uber Technologies Inc. and Lyft Inc. have become ubiquitous, but the risks attached to their business models have yet to be fully embraced by the mainstream insurance industry. Because of this, both companies have had to manage the risk largely on their own, and are devoting increasing amounts of capital to… Continue reading Uber’s $2.94 Billion Insurance Unit Illuminates Challenge of Disruptive Businesses
Tag: self-insurance
Department Issues Cease and Desist Order to Protect California Employers from Unauthorized “Self-Insured” Health Plans
The California Department of Insurance (CDI) issued a Cease and Desist Order effective immediately upon NexGen Insurance Services, Inc., Riverstone Capital, LLC dba Riverstone Capital Insurance Services, LLC and its owner/operators Travis O. Bugli, James C. Kelly and Robert M. Clarke. Parallel investigations by CDI and the U.S. Department of Labor (DOL) revealed that NexGen… Continue reading Department Issues Cease and Desist Order to Protect California Employers from Unauthorized “Self-Insured” Health Plans