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- PCI Commends House Economic Affairs Committee for Addressing Insurance Gaps
- TALLAHASSEE, Fla. - The following statement regarding insurance provisions entered into House Bill 817, otherwise known as the rideshare bill is attributed to PCI’s State Government Relations Counsel Logan McFaddin.
“PCI was the only trade organization to voice support at today’s hearing for House Bill 817, which now has insurance language that will help bring clarity and consistency to transportation network company (TNC) insurance laws, and enhance consumer choice and protections.
“The committee took a critical step forward by requiring TNC drivers to have adequate insurance coverage while the app is turned on.
“It is important that TNC drivers understand their standard personal auto policy contains a “livery” exclusion, which applies when the vehicle is being used for hire. Therefore, most personal insurance policies will not cover any damages or losses if a vehicle is being used for commercial purposes.
“Our top priority is to protect drivers and the public by closing the insurance gaps and this bill now accomplishes that goal. It is similar to model legislation which was agreed upon between the insurance industry and TNCs earlier this week.
“PCI looks forward to continued dialogue to ensure the coverage gaps that leave consumers at risk are closed.”
- PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write more than $195 billion in annual premium, 35 percent of the nation's property casualty insurance. Member companies write 42 percent of the U.S. automobile insurance market, 28 percent of the homeowners market, 33 percent of the commercial property and liability market and 35 percent of the private workers compensation market.
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