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Assembly panel approves bill cutting uninsured/underinsured motorist requirement for rideshare
Summary
The Assembly Insurance Committee on a bipartisan vote approved SB 371, which would reduce required uninsured/underinsured motorist (UIM) coverage for transportation network companies and require data and reporting to track the impact on fares and drivers.
SB 371, authored by Sen. Steve Cabaldon, passed the Assembly Insurance Committee after a robust hearing that pitted rideshare companies and business groups in support against consumer, labor and trial attorney groups opposed.
Cabaldon said the limits set a decade ago were a provisional response to a then-novel industry and urged the committee to modernize the UIM requirement to reflect current data. “Rideshare is now one of the most significant parts of the transportation ecosystem in California,” Cabaldon said during his opening remarks (transcript excerpt).
The bill would replace the current UIM threshold for TNCs with new limits of $100,000 per person and $300,000 per incident, while preserving other insurance coverages the companies provide. Ramona Prieto, director of public policy for Uber,…
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