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The roll-out of Tesla’s data insurance product is well underway in the US, promising its safe-driving customers up to 60% off their premiums, and freedom from being judged by conventional underwriting factors such as age and gender. But what will the impact on the rest of the market be? And will the venture last?
Car insurer Geico faces a potential $5.2m payout to a woman who is claiming she contracted a sexually transmitted infection whilst having sex in the car of a man insured by the company. The claim has prompted Tesla’s Elon Musk to call for legal action against law firms pursuing such “crazy” claims.
While the value of cryptocurrencies continued to grow astronomically, it came crashing down to earth after Tesla’s sudden u-turn from using bitcoin as payment. However, experts think this will hardly undermine its potential as mainstream investments and payment means.
Following its veteran Tesla’s lead, Amazon.com Inc and Ford Motor co-backed electric vehicle startup Rivian launched its in-house insurance program for customers.
Uber CEO Dara Khosrowshahi has revealed that the company won't be following Tesla's example and buy bitcoin, but added that it may soon accept the cryptocurrency as payment.
PayPal and SpaceX founder Elon Musk has revealed that his electric car company Tesla has bought $1.5bn worth of bitcoin, causing the value of the cryptocurrency to reach record heights.