If the ruling takes effect, mobility scooters would have to have third-party liability coverage in Britain, attorney Cecila Frodsham told The Telegraph. That could be expensive because it currently costs around $129 to buy such insurance for a scooter in the United Kingdom.
In nine metro areas—Detroit, Miami/Fort Lauderdale, the Twin Cities, Tampa/St. Petersburg, Baltimore, Orlando, Jacksonville, Hartford, and New Orleans—yearly premiums exceeded $500 in all zip codes. Those cities include some of the nation’s poorest neighborhoods.
Koenigsegg is giving us a glimpse of the future. It contains the features of the cars that most of us will be driving 10 or 15 years from now. There will be a time in the near future when the transmission will go the way of the carburetor.
It looks as if the insurance industry is positioning itself to operate in a post-insurance agency world. It also appears that Google is positioning itself to get the cut of the premium that currently goes to your insurance agency.
One has to wonder if Google’s entry into auto insurance could make insurance agents go the way of the milkman and become a curiosity. One thing is clear; the insurance industry will never be the same again after Google moves in.
An analysis of the Labor Market for Uber drivers prepared by Uber itself and Princeton economist Alan Krueger found that the average driver makes around $19 an hour after Uber’s 20% commission. Since the Uber driver has to pay for gas, the car, insurance, tires, and maintenance out of that money, the pay rate is probably around $10 an hour
In steering, an insurance company directs persons to specific garages or auto body shops when they make a claim for repair, U.S. Senator Richard Blumenthal (D-Connecticut) charged. Blumenthal thinks that steering is actually a safety risk.
British drivers are being driven to buy the cameras because of an epidemic of a vicious insurance scam called crash for cash. In the scam, fraudsters deliberately cause accidents and send the bill to an innocent driver’s insurance company. British insurance giant Aviva reported that organized insurance fraud in Great Britain has increased by 21% since 2013.
The situation is particularly bad because drivers say that they cannot afford commercial livery insurance, which is required for taxis and limos, under Uber’s current rates. Such coverage costs three to 10 times as much as regular car insurance. It’s available to Uber Black Drivers but not to most Uber drivers.
Obviously some better means of providing real insurance for ridesharing drivers needs to be found. If not, this industry is doomed from the beginning. Peers needs to work harder and find a better policy. Although, they may have little choice because major insurers are probably waiting to see how the legal battles around Uber play out before jumping into the business.