Tesla teams up with Markel on insurance program
News comes less than a week after Tesla CEO Elon Musk said the company would launch a "compelling" car insurance product in May.
Tesla is planning to launch an insurance program through State National Insurance Company, a subsidiary of Markel Corporation, according to Seeking Alpha.
This follows news from last week that Tesla chief executive Elon Musk had told analysts that the company is set to unveil a “compelling” car insurance product, which could be launched later in May.
According to Seeking Alpha, State National would serve as a fronting company, with most of the risk being reinsured by a third party.
Innovative
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