The ride-sharing Pioneer has Insurance reserves of close to 3 billion dollars set aside according to regulatory fillings made in preparation for its Planned Initial Public offering (IPO) Uber could raise 10 billion dollars from its planned IPO. But they wouldn’t be in this position without Insurance.
In its recent filing, the company said ”Our business depends heavily on Insurance coverage for drivers and on other types of insurance for additional risk related to our business.
For some of their Insurance needs, Uber and its drivers rely on traditional insurers. Insurance for Uber’s ride sharing operations include third-Party automobile liability, automobile comprehensive and collision, Physical damage, unisured and underinsured motorist coverage.