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The Sharing Economy: A New Frontier in Management Liability?
The rapid growth of “sharing economy” companies has created unique, new legal risks for their directors and officers that only now are beginning to be understood. The “sharing economy” refers to the new online markets in which consumers can rent assets and obtain services directly from each other through mobile and Web-based technology. Because “sharing economy” markets offer consumers easy and rapid access to goods and services at lower prices than traditional markets, companies offering “sharing economy” markets have been very disruptive to traditional companies offering similar goods and services. This article explores the emerging liabilities faced by the directors and officers who lead sharing economy companies and the interesting new challenges for insurers who offer private company D&O liability insurance for those managers. Click here to read the article.
July 1, 2016