We Help Drive Success.
Innovative risk solutions for companies with a new playbook.
Pioneers in Enabling the Sharing Economy
The sharing economy, facilitated by widespread access to the Internet and mobile technology, began to take shape in 2008 when homesharing came onto the scene with the idea of allowing people to share space in their homes in order to find lodging in cities with booked-up hotels. Ridesharing empowered vehicle owners to be able to work whatever hours suit them best.
In addition to homes and rides you can now share vehicles, indoor and outdoor spaces, RVs and even chores along with a host of many other shared assets and services where the goal is to enable supply to meet demand with less friction and fewer transaction costs. This disruptive business model while offering tremendous opportunities for companies and the labor market also comes with risk. Protecting this niche against risk takes innovation and outside-the-box thinking – similar to what the sharing economy is all about.
That’s where Porter & Curtis comes in.
Porter & Curtis: Innovators in Creating New Solutions
Beginning in 2010, with the launch of peer-to-peer car sharing in the U.S., Porter & Curtis has been at the forefront of creating groundbreaking insurance and risk-transfer solutions to address the various challenges and unique and different exposures the gig economy faces. Transportation network companies (TNC) and delivery companies, for example, face contingent non-owned auto liability exposures in addition to the potential for a host of general liability, property, cyber, management liability, and occupational accident risks.
We’ve structured risk-transfer and mitigation solutions for several “household names”. We knew there were no insurance policy forms or rates available for these new business models to address the emerging and unknown risks that come with asset sharing. We took the time to listen and identify each exposure and then developed prospective pricing, wrote manuscript policy forms, and identified smart, open-minded underwriters from our decades in the market to enable these businesses to launch with protection for their users and investors.
Collaboration Is Key
We engage deeply and continuously with our clients to talk about their risks as this niche evolves, including exposures that may arise from the changing regulatory landscape. We are also transparent with our clients on what affects their costs, and what they can do to improve their risk profile.
Porter & Curtis is ready to meet and discuss your needs as you look to protect your people, assets, customers, and organization. We’ll take the time to understand you and your operation and support you as your business grows.