Live Insurance News

Auto insurance limit increase sought in NJ for Lyft and Uber

February 12, 2015February 11, 2015 Julie Campbell

Rideshare companies and their coverage limits were the focus of a bill that has been discussed in New Jersey. Lawmakers in New Jersey have been discussing an auto insurance bill, this week, that has been focused on increasing the coverage limits that will be required of ridesharing services in the state, such as Lyft and Uber. At the start of the week, a spokesperson from Uber said that its reps would be present in order to testify. Those Uber representatives spoke before the New Jersey Senate Transportation Committee. The bill…

Rideshare auto insurance struggles in France could end with 2015 Uber ban

December 26, 2014December 23, 2014 Julie Campbell

The country has now stated that it intends to end the availability of the service next year. The popular low cost rideshare service, Uber, has been facing a number of problems in terms of the details of its legalities, particularly when it comes to the auto insurance requirements, and France has now made a decision to put an end to all of it by simply banning the company from operating within the country. The French government made the announcement that the ban on Uber’s service would begin on January 1,…

Auto insurance silence remains commonplace among rideshare drivers

December 23, 2014December 20, 2014 H. Cutner

Many participants in these programs are confused about the rules and are uncertain as to what to tell insurers. Despite the fact that the regulations with regards to the auto insurance coverage required by the drivers for rideshare programs such as Lyft and Uber have improved throughout 2014, and many cities have legalized the mobile app based transportation service, Forbes recently reported that many drivers are perplexed by the mixed messages that they have received and continue to opt for silence when it comes to informing their insurers. This is…

Insurance news shows “sharing economy” isn’t adequately covered

September 22, 2014September 20, 2014 Julie Campbell

The typical policy is no longer protecting people in certain behaviors that have become commonplace. The latest insurance news from Oregon now includes a statement released by that state’s commissioner with regards to what he called a “sharing economy” and that the typical type of policy does not provide adequate coverage for using a vehicle as a part of a ride sharing service or for renting out a home. In Oregon, the insurance commissioner has previously remained quiet about coverage in these areas. Services such as Uber and Airbnb are…

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…