Live Insurance News

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…

Auto insurance Uber tattling plan begins by Portland taxi drivers

December 15, 2014December 13, 2014 Julie Campbell

The ride share service has been continue to operate illegally in the city and cabbies are working to stop them. The popular Uber ride share service has now been operating illegally for a couple of weeks in Portland and local cabbies are starting to help the police in the city to be able to take the service’s drivers off the roads by ratting them out to their auto insurance companies. It started on Friday when a tweet was made on the Radio Cab Twitter account encouraging cabbies to rat out…

Ride-share companies may have trouble with auto insurance gap

November 18, 2014November 15, 2014 Logan B.

Insurance gap could threaten the future of ride-share companies as they continue to juggle financial risks and liability issues Ride-share companies are becoming more popular and they are beginning to feel pressure to address the insurance gap problem they have. The insurance gap has the potential to threaten the future of ride-sharing and if companies cannot find an effective way to address the issue, they may find it difficult to continue operating in some states. The problem stems from the relative youth of the ride-share sector. Because ride-sharing is so…

Insurance industry in Canada sends warning to Uber

November 5, 2014November 4, 2014 G. Turner

The ride share program is entering into more cities, but standard auto coverage may not be enough. The top regulator in the Canadian insurance industry has now issued a warning to the popular ride share program, Uber, to warn the company, its drivers, and its customers that personal auto insurance will not be adequate for their purposes. The Insurance Bureau of Canada (IBC) has cautioned that personal auto won’t provide the needed coverage. The warning from this national insurance industry association has said that if an Uber driver is involved…

Insurance company goes under and leaves Pennsylvania taxi business uninsured

November 4, 2014November 1, 2014 H. Cutner

Some cabs in Harrisburg have now had their service suspended when they suddenly lost coverage. Pennsylvania commuters and tourists might find it just a little bit harder to get a cab, over the next while, as the operations of sixty six taxi and limo services were suspended by the Pennsylvania Public Utility Commission (PUC) when their insurance company could no longer provide coverage. It turns out that their insurance provider is now destined to be liquidated and is no longer capable of paying future claims. The commission’s press secretary, Jennifer…

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…