Home Page Facebook Twitter LinkedIn Yelp

Ganis Insurance Specializes in Auto Insurance for Uber and Lyft Drivers. We offer competitive rates with excellent coverage, take a look at our reviews. Call us today or click here for your free, no obligation quote. 

Insurance regulators address ridesharing insurance coverage gaps
Commissioner Jones leads national Sharing Economy Working Group

SACRAMENTO, Calif. - The National Association of Insurance Commissioners (NAIC) adopted a white paper addressing the insurance coverage gaps associated with ridesharing services offered by Transportation Network Companies (TNCs) such as Sidecar, Lyft and Uber.

The white paper was issued to assist state insurance regulators and state legislators throughout the United States who are considering how best to address insurance coverage gaps associated with TNCs and ridesharing. Legislation is pending in at least 35 states.

Commissioner Dave Jones' work in California highlighting insurance coverage gaps led California to pass one of the first laws in the nation to require TNCs to provide insurance coverage for drivers. Commissioner Jones chairs the NAIC'sSharing Economy Working Group, which developed the white paper.

The paper, Transportation Network Company Insurance Principles for Legislators and Regulators, outlines insurance consideration to guide state and local policymakers when adopting laws or regulations regarding TNCs. 

"New technology and new business models are important drivers of competition and economic growth," said California Insurance Commissioner Dave Jones. "With any new consumer service, technology or business model like ridesharing, it is also important to make sure consumers are protected and insurance coverage is provided or available."

The paper discusses the perspectives of the insurance industry, TNCs, traditional livery services like cabs and limousines, regulators, drivers and passengers. It also recommends a range of potential state based regulatory solutions. Issues including insurance coverage gaps, coverage amounts and types of coverage are discussed, as well as the need for consumer outreach and education regarding these new transportation services. 

"States across the country are grappling with the issue of how best to make sure TNC drivers, passengers, pedestrians and other drivers are covered when there is an accident with a TNC driver," said Commissioner Jones. "Traditional personal auto insurance policies do not typically provide coverage, so there are insurance coverage gaps that states need to address. This is an area where insurance regulators and state legislators in each state can work together to make sure that consumers are protected."

# # #

You can read the full PR on the Department of Insurance PR Page.

Posted 6:40 PM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2015
  • 2014
  • 2013

View Mobile Version

Get a Quote
First Name
Last Name
Phone #
ZIP Code
Policy Changes
Make A Payment
Contact Us
Ganis Insurance Services, Inc.
3655 Torrance Blvd, Suite 300
Torrance, Ca. 90503
Ca Lic # 0I01647
Refer A Friend Charities We Support Newsletter Signup
Contact Us