Live Insurance News

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…

Ride sharing service in Iowa comes with potential insurance problems

August 5, 2014August 2, 2014 Julie Campbell

ride sharing auto insurance car traffic california

Commissioner Nick Gerhart has cautioned drivers that signing up for these programs could negate their coverage. The Iowa insurance commissioner, Nick Gerhart, has released a statement of caution to drivers in the state who are considering participating in ride sharing services, such as Uber, as signing up to give people drives under this type of program could nullify their auto policies. While the Uber service has not yet made its way into Des Moines, the company has been looking at the city. That said, the commissioner spoke in advance of…

Concerns ignited over Uber’s auto insurance issues

July 29, 2014July 26, 2014 S.Vagus

Uber catches the attention of insurance regulators in Texas Uber, a personal transportation company that is growing at an astonishing rate, is beginning to attract the attention of state regulators in Texas. The Insurance Council of Texas has voiced its concerns about Uber, noting that 20 other states throughout the U.S. are beginning to look into issues regarding auto insurance coverage and the company’s services. Gaps in auto insurance coverage could create dangerous situations for consumers that make use of Uber’s services. There are concerns regarding Uber’s policies on auto…

Ride sharing companies to attend hearing before PA House insurance committee

June 23, 2014June 20, 2014 G. Turner

These alternative transportation businesses, including Lyft and Uber, will be sending to Harrisburg . Today, ride sharing companies, including those based in San Francisco called Uber and Lyft, will be sending representatives to appear at a hearing in Harrisburg before the Pennsylvania House insurance committee. These businesses took their first steps into Pittsburgh earlier this year and have encountered some major challenges. Primary among the problems faced by the ride sharing companies is that the Public Utility Commission (PUC) in the state has declared that the operation of these businesses…

Auto insurance gap for ridesharing closed by Uber

March 18, 2014March 15, 2014 H. Cutner

Drivers participating in the program can now do so with greater confidence with better coverage. The popular Uber ridesharing program has now broadened the auto insurance coverage that it is offering its drivers, in order to help to ease the concerns of American lawmakers and regulators, and to help to ensure that these services will be used on a broader scale. This type of ridesharing program allows the use a smartphone app to find a ride. The drivers in these ridesharing programs aren’t usually professionals, but are typically regular licensed…

California insurance regulator issues warning about ride sharing coverage

February 10, 2014February 10, 2014 Julie Campbell

Companies offering these programs such as Lyft, Uber, and Sidecar claim that their policies don’t have gaps. According to a California insurance industry regulator, there could be some coverage issues faced by participants in the state’s ride sharing programs if they should ever find themselves in the tragic circumstance of a deadly accident. There have been gaps pointed out in the policies of these high tech carpooling systems. At the same time, Lyft, Uber, Sidecar, and other companies that are offering this type of environmentally friendly, affordable program continue to…