California Gov. Jerry Brown has signed into law a bill to establish insurance requirements for transportation network companies and their drivers.
Assembly Bill 2293, authored by Assemblywoman Susan Bonilla, D-Concord, defines with personal and commercial auto insurance is in effect, requires TNCs to inform drivers about insurance coverage and limits and it codifies the California Public Utilities Commission’s definition of TNC.
The state Senate voted 30 to 4 to approve AB 2293, and the Assembly voted 67 to 0 for it.
“The measure protects consumers and encourages innovation in the insurance marketplace,” said Armand Feliciano, vice president of the Association of California Insurance Companies. “AB 2293 has a delayed implementation date of July 1, 2015, so insurers and the California Department of Insurance can develop and approve the necessary new products designed specifically to meet the needs of TNC drivers. Other states examining how to balance insurance and TNCs can look to California’s new law as a great starting place.”
Topics California Ridesharing
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