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New Regulations for Ride-Sharing in New York

New York’s Governor Cuomo has announced new regulations governing ride-sharing in the state. The regulations require that certain information be provided in the ride-sharing app to protect customers, including a photo of the driver, information about the vehicle, the vehicle’s license plate number, and the fare or estimated fare for the trip. To be licensed, ride-sharing companies must...

Dealing with Uninsured Drivers

The problem of uninsured motorists is one that has plagued states and insurers since the first financial responsibility laws were enacted.  States have attempted to address this problem through legislation and enforcement, but those actions have had limited success.  For example, one research study indicates that “no pay, no play” laws banning uninsured drivers from suing for...

Uber Signs Deal With German Automaker Daimler AG

Uber Technologies Inc. has partnered with Germany’s Daimler AG, the maker of Mercedes-Benz vehicles and the first automaker to sign a deal with Uber, in its attempt to build a fleet of autonomous vehicles. Although Uber has devoted many resources to developing autonomous vehicles, deals with auto makers are “crucial” to the company because it has no experience in manufacturing. This...

Honolulu Regulates Ride-Sharing

A new law in Honolulu will require taxi drivers and drivers for ride-sharing services such as Uber and Lyft to obtain a certificate, hold a Hawaii driver’s license, and pass background checks in order to operate. The City Council passed the bill earlier this month, and the mayor recently returned it without a signature, which allowed the bill to become law. The new regulations will...

Deloitte Predicts Changes to Auto Insurance Due to “the Future of Mobility”

Deloitte has released a white paper analyzing trends and potential future changes in auto insurance. Two key trends addressed are the rise of autonomous vehicles and the shift from individual vehicle ownership toward the sharing economy. Members of Deloitte’s actuarial practice modeled how these trends might affect auto insurance. Deloitte projects that total auto insurance premiums...

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