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- PCI Commends Oklahoma Senate For Addressing Important Insurance Gaps
- OKLAHOMA CITY-The Property Casualty Insurers Association of America (PCI) commends the Oklahoma Senate for showing overwhelming support of Senate Bill 436, which closes insurance gaps associated with commercial rideshare companies such as Uber and Lyft.
“This bill not only protects rideshare drivers, but the people of Oklahoma by addressing insurance gaps the entire time the driver is involved in rideshare activity,” said Joe Woods, PCI’s vice president of state government relations. “It’s important rideshare drivers and their passengers understand that the driver’s personal auto policy will not cover them if they are injured or the vehicle is damaged in an accident while the car is used in a ride-sharing activity. PCI supports SB 436 which ensures drivers have adequate insurance coverage from the time they turn the app on until they log off.”
PCI supports innovations within the transportation marketplace and SB 436 is tailored only to address the insurance coverage gaps that currently exist and potentially put drivers and the public at risk.
“There are already several insurers across the country offering hybrid polices that provide coverage options for rideshare drivers, and this bill will encourage innovation in the insurance marketplace,” added Woods.
PCI will continue to work with lawmakers and other key stakeholders to address insurance concerns and make sure Oklahomans are protected.
- 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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