A fatal crash in California will be the first to reveal the way in which the $1 million policy provides coverage. The ride share company, Lyft, which was first founded in 2012 and that has moved into 20 cities has been facing some controversy with regards to the auto insurance coverage that protects the company, its drivers, and their customers, and now it will be put to the test. Near Sacramento, California, there was a fatal accident on Halloween involving a Lyft driver. This represents the first time that the…
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Lyft’s auto insurance policy falls under more scrutiny
Fatal accident puts more focus on ride share insurance coverage A fatal car accident in California may put ride share company Lyft’s auto insurance to the test. The company has been under heavy scrutiny recently regarding its insurance coverage. Some lawmakers have questioned whether Lyft’s coverage was adequate enough to cover accidents and any damage that would be caused by such events. Some had introduced new legislation that would hold ride share companies to higher insurance standards, and these companies had been heavily resistant to such legislative efforts in the…
Read MoreAuto insurance for self-driving vehicles is a hot topic in California
State regulators are beginning to show more attention to insurance issues involving automaked vehicles Self-driving cars could become more common in the future and this may have an impact on auto insurance. The California Department of Insurance is advising the state’s insurance companies to prepare for the eventual proliferation of automated vehicles. Insurance Commissioner Dave Jones has been gathering data about these vehicles and the technology behind them, hoping that insurers will use this data to adapt more quickly to a future where drivers are a thing of the past.…
Read MoreAuto insurance fraud receives more attention from state agency
Insurance Department begins to increase its efforts to combat insurance fraud throughout California The California Department of Insurance has begun to focus more heavily on fighting auto insurance fraud in the Los Angeles area. The agency has been working to track down and eliminate fraud in this area for some time, but has only found modest success. Those participating in fraud have, thus far, managed to find ways to sidestep regulations and continue exploiting consumers and insurance companies alike. Recently, the agency has found more success in its fight against…
Read MoreUber and Lyft withdraw opposition to auto insurance bill
Legislation in California aims to change the way insurance works for ride-share companies Ride-sharing companies Uber and Lyft have been working together to combat legislation in California that would make changes to the state’s auto insurance requirements. The two companies typically compete with one another quite aggressively, but have become allies because of this controversial legislation. The legislation in question, Assembly Bill 2293, aims to place higher insurance requirements on both companies and the drivers that they hire. Uber and Lyft believe that these higher requirements would have a negative…
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