Economy

Amazon will require third-party sellers to secure product liability coverage after reaching $10,000 in sales in one month on Amazon.

In other news: Cowbell Cyber releases API; Discount Tire, Motorq offer data analytics platform; and Roamly announces new hire and expansion plan.

SynchronoSure has three insurance products available in 48 states, and will be adding new products over the next 60 days. GigBOP, a low-end property/casualty product for the gig economy and small business accounts; a trucking general liability product designed to protect the office and garage operations for small trucking companies; and a recently announced excess liability product.

To date, just one insurer has promised to take “significant action” in this regard, according to analysts at Societe Generale SA. Australia’s Suncorp was the first to announce it would no longer provide coverage for all new oil and gas production projects.

Future automobiles will likely need to include passive technology to monitor for driving under the influence and automatic emergency braking.

NHTSA, which announced the Tesla probe Monday, opened 26 probes into various auto and highway safety issues so far this year -- more than in all of 2020 or 2019, according to its website.

The investigation covers an estimated 765,000 Tesla Model Y, X, S and 3 vehicles from the 2014-2021 model years. NHTSA said it launched the probe after 11 crashes that resulted in 17 injuries and one fatality.

Research from Next, which surveyed 30,000 small businesses, found that over 40% don’t have business-specific insurance coverage and instead rely on personal insurance policies.

COVID-19 has shown us that technology can rapidly evolve to meet customer needs, in areas from contactless payments to digital banking to mobile wallets. However, we still see great disparities when it comes to the use of contactless and digital banking by low- to moderate-income (LMI) workers. The question is, will emerging tech in the post-COVID economy provide an opportunity to include new people in the financial system-- or leave them even further behind?

The markets and the Fed are not on the same page about the future of inflation. Luke Tilley Senior Vice President and Chief Economist at Wilmington Trust will discuss the economy and inflation.