PALO ALTO — If the California Department of Insurance has its way, transportation startups, including Uber, Lyft and Sidecar, will be on the hook for more comprehensive insurance policies and subject to stricter regulations.
The suite of recommendations, which stem from an investigatory hearing held March 21, were sent to the California Public Utilities Commission for consideration. In a statement, Commissioner Dave Jones said the hearing revealed “serious insurance gaps.” Measures to address such gaps include requiring $1 million commercial liability insurance, triggered the moment a driver switches on the app; $1 million uninsured/underinsured coverage; and “comprehensive” collision coverage that goes beyond the driver’s personal policy.
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