Live Insurance News

Allstate CEO Tom Wilson says ridesharing will upend the auto insurance industry

January 11, 2019July 21, 2023 Nordstrom

Ride hailing and car sharing programs have changed transportation and are now changing coverage. Allstate CEO Tom Wilson explained that the auto insurance industry should expect some substantial changes due to ridesharing companies. These services have altered the way that vehicles are used so that they are no longer defined by auto products. The interview was reported from CES 2019 by a Cheddar article. In it, the Allstate CEO underscored the change ride hailing and car sharing services have made to personal transportation. That said, traditional auto insurance products don’t…

Auto insurance gap for ridesharing closed by Uber

March 18, 2014March 15, 2014 H. Cutner

Drivers participating in the program can now do so with greater confidence with better coverage. The popular Uber ridesharing program has now broadened the auto insurance coverage that it is offering its drivers, in order to help to ease the concerns of American lawmakers and regulators, and to help to ensure that these services will be used on a broader scale. This type of ridesharing program allows the use a smartphone app to find a ride. The drivers in these ridesharing programs aren’t usually professionals, but are typically regular licensed…