A.M.BestTV: Insurers Respond to Ride Sharing Services

OLDWICK, N.J.--(BUSINESS WIRE)-- This episode of A.M.BestTV focuses on how insurers are scrambling to keep up with evolving issues and regulations surrounding shared insurance sparked by app-based programs such as Uber, Sidecar and Lyft.

Ride sharing is the act of a driver using his or her own vehicle to offer transportation to a rider for a fee. This is usually through a third-party mobile-app company, which offers insurance to the driver. However, this new occupation has b created a host of issues for insurers. To begin addressing some of these concerns, the National Conference of Insurance Legislators has proposed a model act that would regulate transportation network companies, and so far, it has been received positively by insurance industry groups.

“It is difficult sometimes to ascertain where the world, technology and insurance are headed and what the demand for insurance will be in the future,” said Robert Hartwig, president at Insurance Information Institute. “However, ride sharing is definitely on the horizon for one of those places insurers will be.”

Click on http://www.ambest.com/v.asp?v=share415 to view the video program.

Recent episodes of A.M.BestTV include:

• ‘First Monday’: Mergers and Acquisitions Fever Grips Insurance Industry: A.M. Best Vice President Robert DeRose and Assistant Vice President William Pargeans explore motivations of insurers across the major sectors to seek out mergers and acquisitions: http://www.ambest.com/v.asp?v=fmmergeracquisitions415.
• ‘First Monday’: ACA Program Change Hampers Insurers: A.M. Best Senior Financial Analyst Doniella Pliss explores how a budget change that leaves the collectability of risk corridor payments uncertain is impacting U.S. health insurers: http://www.ambest.com/v.asp?v=fmhealth415.
• ‘First Monday’: U.S. Automobile Insurance Model Transforming: A.M. Best Vice President Richard Attanasio discusses how usage-based data and advances in automobile technologies are driving sweeping changes in the U.S. personal automobile insurance sector: http://www.ambest.com/v.asp?v=fmauto415.
• ‘First Monday’: Legacy Variable Annuity Blocks Pressure Insurers: A.M. Best Assistant Vice President Rosemarie Mirabella says legacy variable annuity blocks remain a concern due to rich guarantees and lapse-rate risks: http://www.ambest.com/v.asp?v=fmannuities415.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
[email protected]

Source: A.M. Best Company

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