New York state insurance agents have a seat at the table this week when lawmakers and a broad group of stakeholders meet to discuss the future of ride-hailing companies like Uber and Lyft outside of New York City.
The focus for the Independent Insurance Agents & Brokers of New York (IIABNY) at the meetings, which were held Monday in New York City and in Albany on Wednesday, will be to make sure that the legislature gets on course for a comprehensive insurance plan for these businesses that feature private drivers using their own cars to pick up passengers who secure rides via online and mobile apps.
“Our main goal is that every portion of the ride is covered by insurance,” IIABNY Senior VP for Industry Relations Kathy Weinheimer said. “Both drivers and riders need to know when personal insurance [coverage] ends and protection for broader exposure begins.”
The legislature addressed this issue last year with bills that would have set up a framework to operate in upstate New York. But those efforts stalled.
Whether these meetings can play a role in jumpstarting that process is unclear.
Five legislative committees and approximately 60 people were invited to the roundtables. With numerous issues beyond just insurance coverage – such as the fear traditional taxicabs drivers have at losing business to companies like Uber and Lyft – this will likely just be a first step in the process.
