Search
 

States, cities start tackling ride-share insurance issues

Colorado, Illinois and California are taking the lead on insurance and TNCs.

By Paul Tetrault, JD, ARM, Aim | Updated on September 11, 2014

Sharing, we have all learned no later than kindergarten, is a good thing. So who would have thought the public policy issue causing the most consternation among insurers over the past year would be about so-called “ride-sharing”? Well it has, and state legislatures and municipalities have taken notice, and in some cases action, to address the insurance implications of this new development in technology and transportation. 

The term “ride-sharing” is actually a bit of a misnomer, as the activity at issue — matching a driver and a passenger through a smartphone app developed and administered by transportation network companies, or TNCs — is really not sharing at all. Rather, it’s using one’s personal vehicle to transport another person or persons from one place to another for a fee. Still, it has been cast as part of the new and innovative “sharing economy,” in which new technologies enable individuals and businesses to use resources more efficiently.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.