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Regulators develop guidance for transportation network companies

WASHINGTON, D.C. (March 31, 2015) —Today, the National Association of Insurance Commissioners (NAIC) adopted a white paper on insurance coverage issues in the sharing economy for transportation. Ride-sharing services offered by Transportation Network Companies (TNC) such as Uber, Sidecar and Lyft present new insurance coverage challenges. State insurance regulators are helping state legislators consider how best to address insurance coverage gaps associated with TNCs, as legislation regarding TNCs is pending in at least 35 states.

The paper, Transportation Network Company Insurance Principles for Legislators and Regulators, outlines insurance considerations to guide state and local policy-makers when adopting laws or regulations regarding TNCs.

"With any emerging insurance issue, the NAIC is committed to giving regulators and legislators the tools they need to protect consumers," said NAIC President and Montana Commissioner of Securities and Insurance Monica J. Lindeen. "I'm pleased that the NAIC was able to develop the TNC paper so quickly, as these services are growing rapidly across the country."

The paper discusses the perspectives of the insurance industry, TNCs, traditional livery services like cabs and limousines, regulators, drivers, and passengers. It also recommends a range of potential state-based regulatory solutions. Issues including insurance coverage gaps, coverage amounts, and types of coverage are discussed, as well as the need for consumer outreach and education regarding these new transportation services.

"States across the country are grappling with the issue of how best to make sure that TNC drivers, passengers, and the rest of the public are covered when there is an accident with a TNC driver," said California Insurance Commissioner Dave Jones, who chairs the NAIC Sharing Economy Working Group which developed the paper. "Traditional personal auto insurance policies do not typically provide coverage, so there are insurance coverage gaps that states need to close. This is an area where insurance regulators and state legislators in each state can work together to make sure that consumers are protected."

To view the white paper, click here.

About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit


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