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California sets ride-sharing insurance standards
August 28, 2014, 05:00 AM The Associated Press

SACRAMENTO — Drivers providing services for ride-sharing companies such as Lyft and Uber would have to carry a minimum amount of insurance under a compromise approved by the state Senate.

Democratic Assemblywoman Susan Bonilla of Concord says AB2293 will ensure that drivers buy insurance that will protect consumers and the public.

Both of the major ride-sharing companies supported her bill after she agreed to lower the required amount of excess insurance from $500,000 to $200,000 when drivers do not have passengers in their vehicles.

They previously had objected that lawmakers were stifling innovation by insisting on more expensive liability insurance. The industry lets drivers use their own vehicles to transport customers, who summon drivers using mobile applications.

The Senate approved the bill 30-4 on Wednesday, sending it to the Assembly.



Tags: drivers, insurance,

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