A ride share company that provides a suite of passenger and cargo delivery services presents a unique set of risks. Uber and Lyft are the most popular platforms in the United States, and perhaps worldwide. As the gig economy continues to create unique product or service delivery methods for people, food, etc., fidelity bond products will not be far behind. Our new ride share fidelity bond is an excellent mechanism for the protection of a driver's clients and allows him or her to advertise as a "bonded enterprise". This type of commercial crime coverage is a "third party fidelity bond" or "dishonesty bond". Fidelity bonds for companies may be written on a blanket basis that protect ALL clients of the firm or client-specific. The coverage transfers the risk of dishonest acts of employees that provide Uber-like services "on the premises" of those clients. A look at recent news reveals the severity of some of the risks associated with the ride share industry.
Background investigations, reference checks, interviews and proper credentialing of ride-share drivers are good risk management mechanisms however they are not guarantees that a driver will not commit a dishonest act in the course of his or her ride share duties. A client lawsuit against the employing firm can result in enormous losses and irreparable reputation damage in the ride share industry.
National fidelity bond leader, Surety One, Inc., specializes in underwriting fidelity risks for ALL types of businesses. We NEVER turn down an applicant but rather offer terms specific to each client's unique exposures. Call (800) 373-2804, email Underwriting@SuretyOne.com or click here to discuss your ride share company bond need. We offer commercial crime coverage, cyber risk and hi-cap third party fidelity bonds in all fifty states, Puerto Rico and the U.S. Virgin Islands.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.