A three-paragraph section buried in Lyft Inc.’s nearly-800-page public offering document sums up the challenges of insuring unfamiliar risks born from newer business models. The ride-hailing company has established an elaborate system through a subsidiary effectively allowing it to insure its own risk, thereby lowering its costs, according to the stock-listing prospectus that Lyft filed… Continue reading Lyft’s $864 Million Insurance Unit Shows Ride Hailing Is a Risky Business
Tag: share economy
Judge Blocks Airbnb Crackdown in New York City
A federal judge blocked a New York City law intended to curb Airbnb Inc., giving a boost to the company and others that offer short-term rentals in the city. The law, which passed last year and was slated to take effect in February, was intended to rein in what authorities have said are thousands of… Continue reading Judge Blocks Airbnb Crackdown in New York City