
How the sharing industry gets insurance
Sharing may sound utopian. But the sharing industry has a dark side and its name is insurance.
“Probably one of the hardest things we had to do in order to start our company was to get the insurance,” says Seth Peterson, co-founder and CEO of AllYouCanArcade.com, an arcade game rental business. Peterson says he had to call more than 100 insurance agents before he found one willing to work with him.
“Eventually what I did was I started to get my insurance license,” he says, “because I thought if no one is going to underwrite this, I’ll underwrite this myself.”
Peterson says the brokers he talked to were okay with the arcade game part of his business: “Then we would say, ‘Well, actually, though, we have these independent contractors who work for us, who fill demand across the entire United States.' And that was the point where they just freaked out.”
Continue reading “Jean Lievens: Sharing Industry Insurance Challenges”



