Uber, Lyft Face New Insurance Regs As Calif. Gov. Signs Law, Law360 ft. Tad Devlin
By Kat Greene
Los Angeles (September 18, 2014, 5:39 PM ET) — California Gov. Jerry Brown on Wednesday signed an amendment to state law boosting the insurance requirements for so-called transportation network companies such as Uber and Lyft.
The law forces drivers of the services, some of whom operate out of their personal vehicles rather than a company’s fleet, to maintain primary liability insurance coverage of at least $50,000 per person and $100,000 per occurrence of death and personal injury during the time they’re at work via the rideshare companies’ apps, according to the new legislation.