Photo courtesy of Lyft.
Photo courtesy of Lyft.

In an attempt to offer more protection for drivers and passengers, Lyft today announced a new partnership with MetLife.

Details are scant, but the transportation company noted today in a blog post that it will “develop insurance solutions,” with MetLife in the coming months.

“This arrangement is designed to help Lyft continue setting the highest standard for trust and safety in peer-to-peer transportation,” Lyft wrote.

One of the big complaints from regulators is that drivers of services like Lyft, UberX and Sidecar often do not carry the more expensive commercial insurance that is required for people who want to use their personal cars to shuttle passengers around town. To avoid paying higher fees, many drivers would not tell their personal insurance companies that they were working for Lyft or others.

This new partnership could offer a solution to that problem. It would be in addition to Lyft’s $1 million excess liability insurance policy in place for drivers who can’t cover damages with their personal insurance.

In Seattle, the City Council passed an ordinance requiring drivers of Lyft, UberX and Sidecar to carry commercial insurance. However, that ordinance was suspended last month after a coalition submitted petition signatures. Mayor Ed Murray is now trying to reach a new agreement between the startups and taxi drivers, but if nothing is on the table by the end May, Murray said he’ll issue a cease-and-desist letter to Lyft, UberX and Sidecar.

Comments

  • elbowman

    “Details are scant, but the transportation company noted today in a blog post that it will “develop insurance solutions,” with MetLife in the coming months.”

    Until you have satisfactory insurance and can compete fairly within this regulated industry, this should derail your company from doing business.

    Obey the laws, or shutdown.

  • MichaelTompson

    Another “we happy” photo courtesy of law-breaking California ride-sharing cartel.
    So easy to dupe everyone. And investors are loving it too.
    Breaking laws and gutting out small local transportation businesses is such a
    profitable business. Hey, it’s called “innovation” – didn’t you know?!
    Now let’s pump it some more.
    And when robotic cars by Google’s become a reality – we get rid of sucker
    part-time minimum wage drivers and rule the streets.
    Crime pays. That’s the only “innovation” here.

    • Sky Kelsey

      Riders and drivers love it too. In fact the only people who don’t are cabbies such as yourself.

      • MichaelTompson

        Urban myth self-perpetuated by few corporations directly benefiting from this law-breaking unfair “business” practice.
        Competition has to be fair. Ride-sharing isn’t. It doesn’t pay even a tenth of the expenses that small local transportation businesses are paying daily.

      • John Kane

        Do a search on Twitter and you’ll see there are tons and tons of dissatisfied customers. What planet do you live on?

        And when the app tells you “No Driver Available,” that’s not particularly good service, now is it?

        Please stop perpetuating the myth of “immediate” and “cheaper” service from Lyft/Uber.

    • Tom Michaelson

      Here’s a fun game. Click on Michael’s handle and see how he trolls the Web crying about Uber. After getting owned on the Arlnow.com site for two days, he finally gave up and moved on. What a shame. Keep the comedy coming!

      • MichaelTompson

        You must be the “brightest” of the bunch. I see. Because “shooting the messenger’ worked so well, right ?
        The only “comedy” in all this is the sad and predictable script played by hired ride-sharing internet support group that was
        brought together to instill dogmas of corporate-controlled local transportation in a few naive readers that left in here.
        You want to compete? Then compete fairly. Simple.
        No need in self pumping your supposedly “excellent” service.

        • Tom Michaelson

          “Hired ride-sharing internet support group” HAHAHAHAHAHA! Michael, you are hilarious but wrong again. Just a satisfied Uber customer, that’s all. It’s cheaper, it’s safer, it’s on time, etc. You don’t stand a chance. But wait, your comment got an up-vote. That must mean someone agreed with you. Oh wait, you up-voted your own comment. HAHAHAHAHA Michael, you are so funny!

          • MichaelTompson

            What wasn’t funny is that I couldn’t log in to my online account this morning. Apparently, someone tried to
            block it. Nice job. As always – shoot down the messenger and pump the fraud further is your ultimate motto.
            Shame. But even a dialog with ride-sharing paid cultists ends in ridicule and accounts blocked.
            With that, ignoring regulations is nothing – I’m sure ride-sharing cartel and people behind it will stop at nothing.

  • Kary

    What business starts thinking about insurance after they start operating? I would add that this insurance likely doesn’t cover the repair of the driver’s car.

  • Guest

    Excellent! More great news for TNCs and their customers, like myself. Thank you for keeping Seattle moving as the city cuts her public transit and artificially limits her taxi cabs.

    • ClaimsAdjuster

      What news? You realize that Lyft just announced that it is just talking to Metlife.

  • John Kane

    But… but wait…. I thought I all the insurance “problems” were just an illusion??? What about all those Lyft supporters railing about how there is no insurance problem? Now here’s Lyft tacitly acknowledging there IS an insurance problem that needs solving??

    Weird, right?

  • ClaimsAdjuster

    Instead of actually getting insurance coverage, Lyft makes announcements every few months that it is “partnering” with insurance companies – which apparently means having a bunch of inconclusive meetings. In February Lyft announced the formation of a working group made up of “transportation companies, regulators, insurance providers, and other stakeholders.

    Taylor Soper, boy reporter, noted the “Peer-to-peer rideshare insurance coalition” back in February but curiously omitted that prior effort from this article. The excitement of this new announcement probably caused him to forget.

  • pitbullstew

    I have been sourcing MetLife in NYC regarding the partnership spoof. No one
    at home office is aware including president Stephen Kanvarian. They do NOT write
    Commercial for hire insurance

    They have assigned Carlene Venture to investigate all this

    She has asked us to email or mail any info regarding this.

    ceventura@metlife.com

    Or mail to MetLife, Inc, 200 Park ave, NYC 10166 in care of her.

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