Rob Nicholls writes in The Conversation (4.3.16) about moves to regulate businesses in the new ‘sharing’ economy, such as Uber and Air BnB.
‘In the early days of the sharing economy, players like Uber and Airbnb provided a platform for their services, but no such protection on the risks that came with them. They shifted the risk instead to the buyer’s side or the seller’s side — sometimes both.
‘Uber drivers were expected to hold fully comprehensive insurance, but very few insurers included coverage for ride-sharing. Airbnb also expected its hosts to be insured, but strata insurance was unlikely to cover paying guests.
‘However, there is now a perceptible shift among players to provide at least “safety net” insurance cover. They were already available in the United States, but they were only recently introduced in Australia in the fourth quarter of last year.’