Elon Musk is personally insuring Tesla's board members due to 'disproportionately high premiums' quoted by insurance companies
Tesla said Tuesday that CEO Elon Musk is insuring company directors, citing high premiums from insurance companies. No stranger to high insurance costs, Tesla last year launched an insurance offering for owners in California.
"Instead," the company said, "Elon Musk agreed with Tesla to personally provide coverage substantially equivalent to such a policy for a one-year period, and the other members of the Board are third-party beneficiaries thereof."including new member Hiro Mizuno who joined the board on April 23
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