ridesharing

According to IIAABNY (Independent Insurance Agents and Brokers of NY), questions still remain on whether or not the personal auto policy (PAP) will cover ridesharing activities. In spite of the livery/public conveyance exclusion in the policy, the Department of Financial Services (DFS) is of the opinion that ridesharing activities ARE covered under the PAP unless specifically excluded by endorsement. Therefore, the DFS has provided specific language insurers can use to exclude ridesharing activities from the policy.

These policy changes will take time to put in place on policies as they renew. To ensure that the PAP is not called upon to provide coverage during the time it takes to add the ridesharing specific exclusions to policies, the DFS addressed this in the emergency regulations issued on June 6. The regulation clearly states that the group policy purchased by the transportation network company (TNC) is primary over the driver’s individual coverage until January 1, 2019 (see 11 NYCRR 60-3.7(b) ). The DFS believes that this will make it clear where coverage is to be provided until insurers get their exclusion (or coverage) endorsements filed and approved.