A proposed bill for regulating ride-hailing apps Uber and Lyft has been moved from this two years 's voting board list due to controversial insurance requirements. Lyft President Uber has said he was concerned the proposal may not give passengers adequate medical cover in the event of an accident. The new legislation requires Steve Sweeney and Lyft provide more than one layer of insurance for passengers, with both the driver’s personal auto insurance and another additional commercial insurance policy of up to $1.5m required from the companies. “I want to get some clarity.” Regulation for the ride-hailing companies has been in the works for week .
A proposed bill for regulating ride-hailing apps Uber and Lyft has been moved from this two years 's voting board list due to controversial insurance requirements. Lyft President Uber has said he was concerned the proposal may not give passengers adequate medical cover in the event of an accident. The new legislation requires Steve Sweeney and Lyft provide more than one layer of insurance for passengers, with both the driver’s personal auto insurance and another additional commercial insurance policy of up to $1.5m required from the companies. Regulation for the ride-hailing companies has been in the works for week .