Live Insurance News

Lyft’s auto insurance policy falls under more scrutiny

November 7, 2014November 6, 2014 S.Vagus

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…

Auto insurance bill for ridesharing companies signed in California

September 22, 2014September 22, 2014 G. Turner

This new legislation is designed to close the coverage gaps for drivers in this type of program. Governor Jerry Brown has now signed a controversial bill that is meant to provide a compromise and close the auto insurance gaps while at the same time calling for increased oversight of the rapidly growing industry of ridesharing companies and programs in California. Uber, the largest rideshare company in the industry, simultaneously announced plans for large scale hiring. The announcement made by Uber stated that the hiring would place a focus on bringing…

Auto insurance policy from Uber outlined at hearing

September 15, 2014September 13, 2014 G. Turner

The ride share service has spoken before the Pennsylvania Public Utility Commission with coverage details. A spokespersion representing Uber – the popular ride sharing service – has now testified with regards to the auto insurance policies held by the company, before the Pennsylvania Public Utility Commission. This provided details with respect to the coverage that extends to the drivers and vehicles used for the ride sharing platform. That said, despites the coverage details that were outlined, a representative of the Pennsylvania Insurance Federation spoke out against the provided protection. That…

Uber and Lyft withdraw opposition to auto insurance bill

September 1, 2014August 31, 2014 S.Vagus

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…

Uber and Lyft fight auto insurance legislation

August 26, 2014August 25, 2014 S.Vagus

Ride-share companies continue to fight legislation that could have a severe impact on their business Ride-share companies Uber and Lyft are fighting legislation that could, essentially, ruin their business. Auto insurance is at the heart of the legislative battle that has been brewing in the ride-share sector for some time. Both Uber and Lyft have been the subject of criticism recently due to the way they handle insurance coverage for their drivers. The matter has become so problematic that government officials have introduced new legislation to address the issue. Legislation…