His appearance before a Congressional Committee alongside an Uber driver, a Thumbtack executive and the President of The Internet Association, was a strong statement in itself. But Robert Passmore, AVP of personal lines at the Property Casualty Insurers Association of America, also made some bold assertions during his testimony about the role of the insurance industry in the sharing economy.

“PCI members are at the heart of the sharing economy, creating and providing new solutions for businesses and consumers to protect their personal and financial safety,” Passmore declared. “While innovators in the sharing economy have designed new ways of using new technology to improve business models, insurers have been innovating new ways of providing protection for centuries and will similarly in the future be the grease that will enable the sharing economy to evolve, thrive and provide maximum benefits to consumers and businesses.”

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