Insurers Support Florida Ride Share Legislation

TALLAHASSEE, Fla., Jan. 11 -- The Property Casualty Insurers Association of America issued the following statement by Logan McFaddin, state government relations regional manager, on proposed ride share legislation in Florida:

"We support Senator Jeff Brandes and Representative Chris Sprowls effort to push forward ridesharing legislation that protects the public and drivers, and recognizes that a single, unified approach is needed in the Sunshine State. As we begin to focus on the 2017 Legislative Session, we encourage lawmakers to work toward a cohesive and unified approach in order to protect Floridians.

"The number of people using transportation network companies has exploded in recent years. Despite that growth, questions surrounding consumer protections and regulations, specifically regarding insurance coverage, remain.

"Many TNC drivers believe their personal auto insurance policy will cover them. However, this is almost never the case, as the majority of personal auto insurance policies exclude coverage when a vehicle is being used for hire. Should an accident occur, this exclusion could leave the driver and passengers at risk of paying medical and repair costs.

"This legislative solution helps to ensure there are safe transportation options that protect drivers, passengers and the public.

"Model legislation has already passed in 40 states, striking the right balance between protecting consumers and supporting innovation. It's now time for Florida to do the same."

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 $202 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, 27 percent of the homeowners market, 33 percent of the commercial property and liability market and 34 percent of the private workers compensation market.

[Category: Insurance]

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