SACRAMENTO — State legislation placing new insurance requirements on ride-sharing companies advanced to the Senate floor on Thursday after a fiscal committee tacked on a range of amendments.
As currently written—and opposed by such companies as Uber Technologies Inc. and Lyft Inc.—AB 2293 would require ride-share drivers to carry insurance providing $750,000 in coverage during the so-called Phase One period when they’re waiting to be matched with a passenger. The Senate Appropriations Committee on Thursday said it would drop that coverage level to $300,000. But it also announced additional language that would force transportation network companies to provide $1 million in liability coverage to cover damages above a driver’s limits.
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