First digital insurance for peer-to-peer sharing platforms is launched in Canada

The digital insurance Duuo launched the Rent-my-Stuff insurance focused on providing protection for peer-to-peer rental damages and losses. Rent-my-Stuff is the first insurance platform provider entirely suited for on-demand digital services systems. The creation of innovative insurance products is required to a fast-paced digital economy where traditional insurance providers do not cover the complex set of relations concerning sharing platforms, owners of the goods and third-parties. Individuals renting entirely or partially their properties on Airbnb have faced legal issues with their insurance in cases of third-party damages. In Canada, peer-to-peer rentals are developing as the next phase of the sharing economy, including platforms to rent personal travel equipment, baby gears, and household facilities.