Uber issued the following press release concerning insurance coverage for transportation network company drivers that is in the "Uber bill":Insurance companies worked with TNC companies to develop the insurance portion of the legislation. National insurance associations support this legislation and the included insurance provisions. Below is an Uber press release with the insurance companies and associations in support named.
Today, we’re proud to share a TNC Insurance Compromise Model Bill that has been developed by some of the leading auto insurance companies and Transportation Network Companies (TNCs) and helps set consistent and modern insurance regulation for TNC services. Transportation network services have proven popular with consumers, and the traveling public will benefit from the addition of innovative, affordable and safe transportation options. The undersigned auto insurance carriers, Transportation Network Companies, and trade associations stand together in support of this insurance legislation, and encourage you to utilize this language to address TNC insurance issues in your state. The key elements of the TNC Insurance Compromise Model Bill include:
· An insurance mandate of primary insurance coverage during Period 1 (logged in and available) with minimum liability limits of $50/$100/$25K plus any other state compulsory coverage. Coverage is to be maintained by the TNC, TNC Driver, or a combination of the two.
· An insurance mandate of primary insurance coverage during Periods 2 and 3 (en route to pick up and carrying passengers) with minimum liability limits of $1,000,000 plus any other compulsory coverage mandated of limos to be satisfied by the TNC, TNC Driver, or a combination of the two.
· Proof of TNC insurance to be carried by TNC Drivers.
· Mandatory claim investigation cooperation between auto insurers and TNCs.
· Express authorization of surplus lines insurance.
The undersigned companies and associations agree that the TNC Insurance Compromise Model Bill strikes the right balance between encouraging innovative transportation options and creating a strong regulatory framework that protects consumers, respects contracts and ensures proper auto insurance coverage.
American Insurance Association
National Association of Mutual Insurance Companies
Property Casualty Insurers Association of America