PCI Applauds Alaska Gov. Walker for Signing Ridesharing Bill

JUNEAU, Alaska, June 16 -- The Property Casualty Insurers Association of America issued the following statement by Armand Feliciano, vice president for state government relations:

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The Property Casualty Insurers Association of America (PCI) today issued the following statement commending Alaska Governor Bill Walker for signing HB 132, and thanking Sen. Mia Costello and Rep. Adam Wool for their hard work passing this important legislation enabling Transportation Network Companies (TNCs) to bring jobs and opportunities to Alaska.

"We applaud Governor Walker for signing HB 132 into law and protecting drivers and passengers utilizing this innovative form of transportation. This bill will ensure that TNC drivers have appropriate insurance coverage and create new job opportunities and ways to move around in Alaska

"We also commend Senator Costello and Representative Wool for their hard work and dedication to making this new law a reality. HB 132 requires drivers to have insurance coverage from the time the app is turned on, until it is turned off. "

"Governor Walker's signature of HB 132 makes Alaska the 47th state along with the District of Columbia to enact TNC insurance legislation. Florida, New Jersey, New York and Wyoming also enacted TNC legislation this year. The Connecticut Legislature has approved a bill that is currently awaiting the governor's signature. Oregon and Vermont remain the only two states without a law closing the insurance gap for TNCs."

"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."