Uber and
Lyft have been criticized world-wide for having inadequate insurance, licensing
and insufficient background checks for its drivers. Being a 40-billion Company,
we don’t know if it is, Uber is trying to push its way in to the Transportation
Industry without respecting the Laws and Regulations. They are still allowed to
operate even though they are violating the most important laws (Licensing and
Commercial Insurance) of Transportation Industry.
Insurance
alerts have been posted by various states to warn the potential customers about
risks associated with riding with Ride-Sharing Companies. Uber and Lyft have
been misleading their Customers, Government Bodies and even their own drivers.
The Uber/Lyft drivers are operating in their personal vehicles carrying
Personal Insurance. The TN Department of Insurance has issued a warning in Insurance
Gaps provided by TNCs and that there will be no coverage under Drivers Personal
Policy. Many Insurance Companies are cancelling the Personal Insurances of
Drivers who are working for Ride-Sharing Companies. Taxi Cab drivers have
started reporting the Uber & Lyft drivers to their Insurance Companies.
More information is available on these sites regarding said Insurance Scams.
The Company
(James River Insurance) that issues the supposedly Uber 1-million-dollar policy
is based out of Bermuda and it is not recognized in many of the US States
including Tennessee. James River is a surplus line Insurer which is not
admitted, not regulated and not registered under any State Guarantee Fund. The
insured party is Raiser LLC which is the payment processor for Uber therefore
there is no coverage for the driver or passenger in an accident. The shady details of the policy can be read
on the following websites
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