# Insurance



## franklin (Apr 21, 2014)

http://tbo.com/news/business/some-doubt-ride-sharing-has-it-covered-liability-wise-20140419/

Pretty crazy set up on the insurance issue:

1. Uber's policy is issued by James River Insurance Co., what is known as a surplus lines company that covers high-risk, high-value markets, similar to Lloyd's of London. It is not "licensed and admitted" to practice in Florida, or licensed in Minnesota. That's not an exhaustive list, just from this article. Best to check your own state.

2. The James River policy lists companies Rasier LLC, Rasier-CA LLC and Rasier-DC LLC as primary insured parties and Uber as "additional insured." Rasier is a subsidiary of Uber. Madiedo, president of the Professional Insurance Center in Tampa, called it a shell corporation with no assets. "Rasier does not contract with Uber drivers; Uber contracts with Uber drivers," Madiedo said. "Uber is only covered if there is negligence emanating out of the name of the insured, Rasier.

3. "Rasier doesn't do anything; it has no drivers," he added. "It's a ring around the rosie."


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