Harry Campbell’s Post

Uber raises its minimum age for California drivers to 25 https://ift.tt/IhaqnfX Uber has raised its minimum driver age in California to 25, up from 19, as initially reported byThe Associated Press. The company allegedly changed the policy because of climbing commercial auto insurance costs in the state. However, it only affects new signups; drivers already approved before Wednesday will remain eligible. In a statement to Engadget, Uber chalked the decision up to the state's insurance rates and litigation environment. “California’s insurance coverage requirements for rideshare are baselessly higher than nearly every other car on the road: up to thirty times that of taxis and thirty times that of personal vehicles,” an Uber spokesperson wrote in an emailed statement to Engadget. “As a result of these lopsided requirements, personal injury attorneys have created a cottage industry specializing in suing rideshare platforms like ours, pushing Uber’s California state-mandated commercial insurance costs to rise by more than 65% in just two years. By increasing the age requirement for new drivers to 25, we hope to mitigate the growth of those costs.” “We hope to work with lawmakers, policy leaders, and industry experts to discuss legislative and regulatory changes that will improve the experience for all California drivers,” the Uber spokesperson wrote. The new minimum age puts Uber on even ground with Lyft, which already required all US drivers to be 25 or older. The updated rules won’t apply to Uber Eats drivers, who can still deliver orders as young as 19. Uber’s business has bounced back since declining during the pandemic’s peak. It reported its first quarterly operating profit earlier this month, crediting a 22-percent boost in trips. This article originally appeared on Engadget at https://ift.tt/IhaqnfX via Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics https://ift.tt/12SFWh7 August 24, 2023 at 05:11PM

On Thursday, Aug. 24, Uber raised the minimum age requirement for most new drivers in California to 25, a requirement the company said was necessary because of the state's rising cost of commercial auto insurance. The new rules apply only to drivers who sign up to pick up passengers through the Uber ride-hailing platform, not drivers who deliver meals through Uber Eats. Previously, drivers as young as 19 could sign up. Drivers under the age of 25 who activated their accounts before Wednesday, Aug. 23 will still be able to continue driving, Uber said. Insurance rates for Uber drivers in California are significantly higher than those for private car or taxi drivers, according to a company statement. “As a result of these unbalanced demands, personal injury attorneys have created a practice dedicated to suing ride-sharing platforms like ours, causing Uber’s California-mandated business insurance costs to rise by more than 65% in just two years, by adding We hope to mitigate these cost increases by raising the age requirement for new drivers to 25.” In addition, Uber’s ridership has recovered after suffering a severe decline due to the pandemic. Uber’s platform is now receiving more rides than it did in 2019, giving the company hope that it will eventually achieve its long-term goal of sustained profitability. In order to achieve this goal, management has paid more attention to cost control, which may be a factor in the driver's age requirement. In the United States, all states require drivers to purchase commercial insurance in order to make money through online car-hailing platforms. Uber provides commercial auto insurance for drivers, including liability insurance of at least 1 million yuan after the order is accepted. Personal auto insurance generally does not cover activity on ride-hailing apps. Uber hopes to work with state lawmakers and industry experts to "discuss legislative and regulatory reforms to improve the experience for all California drivers," the statement said. Earlier, Lyft, Uber's main rival, had raised the minimum age for drivers to 25. For drivers under 25, turn to Uber Eats, the food delivery service that accounts for a third of the company's revenue.

Hidden Tracking in Cars: How Your Driving Habits Can Raise Insurance Rates Imagine being a safe driver with a clean record, only to see your car insurance skyrocket by 21%. Quotes from other companies are just as high. Turns out it was the smart car who was dobbing on you, sharing data about your driving start and end times, distance traveled, whether you were driving over the speed limit, did hard brakes or sharp accelerations.   Such hidden data collection is happening today and car companies are selling this data to insurance companies, who are using this data to set your rates, potentially penalizing safe drivers for unknown reasons.   The kicker? Many drivers are unaware of this data collection. Car companies may: * Enroll them in data-tracking programs by default. * Hide the details in lengthy privacy policies that nobody reads.   This lack of transparency is concerning, especially when drivers: * Don't understand what data is being collected. * Can't easily opt out of these programs.   Some argue that usage-based insurance, where rates reflect driving habits, can promote safety. However, the problem lies in: * "Stealth enrollment" where drivers are unknowingly tracked. * Unfair penalization without clear explanations.   What you can do: * Check your car's connected car app to see if you're enrolled in such programs. * Use online tools to see what data your car can collect. * Contact your car manufacturer to request information about data collection practices.   This hidden data collection raises concerns about privacy and fairness. By being informed, you can take steps to protect yourself and ensure your insurance reflects your actual driving habits. And make sure your smart connected car is not dobbing on you! https://lnkd.in/gnPRAuiD

Great Profit Ideas - 500 Ideas (45 to 50): 45           Sell On Your Outgoing Envelopes At Minimal Cost: On all of your company envelopes, add messages (stickers, stamps) concerning Upcoming Holiday Sales., 2 for 1 Specials, Free Freight Day, Purchases Over $100 Received 15% Discount, Extended Store Hours, Discount Codes For Online Internet Purchases. Announce any change or offer to customers and vendors alike. 46           Consider Offering Your Products Or Services 24/7: Not all businesses can do this but offer your services 24/7 and make it notable on magnetic or painted signs on all of your vehicles and various advertising. An example of this might be offering all night automotive services (car is picked up and brought back and dropped off before dawn at a premium price). 47           Award Company Drivers For Good Driving Records: To save money on your company’s vehicle insurance premium, award company drivers for excellent, accident-free driving records. It is well worth the bonus to pay them for every additional quarter they drive and work without incurring an accident or getting a ticket. The longer the driver goes without these issues, consider increasing the payout. Once they incur an incident (accident or ticket), drop the bonus back to the starting point and make it known this is procedure for all drivers. Make sure to advertise to all the drivers when a driver earns the top bonus each quarter. 48.           Install Telephone Speakers In The Cab For Drivers To Be Hands Free:  Install speakers in the delivery vans and company trucks to get the company telephones out of their hands while driving. 49           Increase Insurance Deductibles When Negotiating New Premiums:  If your company can afford it, increase the deductible on company vehicle accidents to drive down insurance costs. Increasing the deductible may drive premiums down enough to substantiate taking the additional risk. Consider taking the saved insurance premium (drop in old to new cost) and depositing it in the bank in case the company incurs an accident which will help to offset the higher deductible. 50.           Take A Higher Insurance Deductible, Use The Savings To Award Safe Company Drivers: Sign the company up for a higher deductible on its vehicle insurance premium and take the savings on the premium and pay it out to safe drivers in the company. Advertise the program and pay it gladly when drivers pass the time without any accidents or tickets. https://lnkd.in/gG3iDg83

Navigating the aftermath of an Uber or Lyft accident involving a pedestrian can be overwhelming. Here's what you should know: #UberAccidents #LyftAccidents #PedestrianSafety #InsuranceInsights #LegalAdvice **The Scenario:** Uber and Lyft offer convenience, but accidents involving their drivers happen. If you're hit as a pedestrian by one of their drivers, here's what to expect. **Insurance Coverage:** Uber/Lyft drivers operate under various phases that dictate insurance coverage. Periods 0-3 determine liability coverage for injuries and property damage, ranging from $50,000 to $1,000,000. **Driver's Responsibility:** Uber and Lyft drivers are financially responsible if found at fault. Their liability insurance comes into play after a claim submission to cover damages and injuries. **Proving Liability:** Gathering evidence can be challenging for pedestrians injured in these accidents. Seek help from witnesses, take photos if possible, and prioritize your health over collecting evidence. **Legal Assistance:** After an accident, contacting experienced Maryland car accident lawyers, like Rice, Murtha, and Psoras, is crucial. They can help gather evidence, request reports, and navigate the legal process. **Prioritize Your Health:** Injuries come first. Ensure you receive proper medical attention. Seeking legal support can assist in claiming compensation for your injuries and damages. If you or a loved one has been involved in an Uber/Lyft pedestrian accident, don't navigate this alone. Contact our team today for guidance and legal support. #LegalSupport #InjuryCompensation #StayInformed

I've been working closely with the Cambridge Mobile Telematics team on ways to reduce insurance costs in the gig economy, and this article provides a nice summary of the huge insurance costs gig companies are facing and the simple steps that can be taken to incentivize drivers to drive safer, reduce insurance costs and ensure a quicker claims process. Some thoughts: 1. Why are insurance costs skyrocketing? Gig companies are literally telling drivers to drive as fast as possible since they're paid by the gig, so the more rides or orders you do per hour, the more money a gig driver will make. So if you see a yellow light, speeding through it and saving two minutes will have a direct positive impact on your earnings. Not to mention, the busiest times for a ridehail driver are Mon-Fri rush hour and Fri/Sat party hours, also some of the most unsafe times to drive. 2. Delivery services have no passengers. At least with rideshare, there is some accountability during period 3 (a passenger is in the car around 30-50% of a typical working hour) since your passenger will give you a low rating if you're a crazy driver. With delivery, it's just you and the pay is less on average, so even more incentive to hustle from order to order. 3. Hard braking is a good example of behavior change that can be easily modified via telematics and driver coaching, and it's a big potential win-win-win. The number one issue for drivers right now is high gas prices, and hard braking actually hurts MPG, so you can message this to drivers and encourage them to save on gas by braking smoother, not to mention, it's a better ride/experience for passengers. But the real savings for platforms come from less accidents caused by hard braking (driver bears the cost of this indirectly so really doesn't care about this part of the benefit). Look forward to seeing more telematics, driver rewards and lower insurance costs for all.

Uber Raises Minimum Driving Age to 25 in California to Combat Rising Insurance Costs - https://lnkd.in/gG5xDDFp - Uber introduced a new age requirement for its California drivers on Thursday in response to rising commercial and auto insurance rates. The company said that moving forward, it will only allow people 25 years and older to transport passengers, but the rules won’t apply to Uber Eats delivery drivers.Read more... - ShipWr3ck - \<div\>\<img class="type:primaryImage" src="https://lnkd.in/g-FGUJJZ"\>\<p\>Uber introduced a new age requirement for its California drivers on Thursday in response to rising commercial and auto insurance rates. The company said that moving forward, it will only allow people 25 years and older to transport passengers, but the rules won’t apply to Uber Eats delivery drivers.\</p\>\<p\>\<a href="https://lnkd.in/gbNnEJfN"\>Read more...\</a\>\</p\>\</div\> ~ Shared by https://shipwr3ck.com/

As electric cars become more prevalent on the roads, insurance companies are adapting their policies and coverage to accommodate these vehicles. While the shift towards insuring electric cars presents new opportunities, it also poses unique challenges for insurance companies. Below are some factors to consider regarding how insurance companies will manage insurance for electric cars and the challenges they may face in my view: 1. Cost of Repairs and Maintenance: - Challenge: Electric cars often have specialized parts and technology that can be more expensive to repair or replace compared to traditional petrol cars. Insurance companies will need to account for these higher costs when determining premiums and coverage. 2. Battery and Range: - Challenge: The range of electric cars heavily depends on the battery's performance, lifespan, and potential degradation over time. Insurance companies may need to consider the potential costs associated with battery replacement or repairs in case of damage or failure. 3. Charging Infrastructure: - Challenge: The availability and accessibility of charging infrastructure can impact insurance coverage. Insurance companies may need to assess the impact of limited charging infrastructure on the likelihood of accidents or breakdowns, and adjust premiums accordingly. 4. Safety Features and Technology: - Opportunity: Electric cars often come equipped with advanced safety features and autonomous driving capabilities. Insurance companies may offer discounts or incentives for electric car owners due to the potential reduction in accident risk associated with these features. 5. Data Collection and Telematics: - Opportunity: Electric cars provide an opportunity for insurance companies to collect data on driving patterns, battery usage, and charging behavior. Telematics devices can be used to monitor and reward safe driving habits, potentially leading to personalized insurance premiums based on individual usage and behavior. 6. Environmental Factors: - Opportunity: Electric cars contribute to reducing carbon emissions and promoting sustainability. Insurers can explore offering eco-friendly insurance policies or incentives to encourage the adoption of electric cars, aligning with their customers' environmental values. 7. Consumer Education: - Challenge: As electric vehicles are relatively new to the market, insurance companies may need to focus on educating consumers about the unique aspects of electric car insurance, including coverage options, charging considerations, and potential cost differences compared to petrol vehicles. Insurance companies are actively working to adapt their policies and pricing models to accommodate the growing electric vehicle market. By closely monitoring and assessing the challenges and opportunities presented by electric cars, insurers can develop comprehensive coverage plans that address the specific needs of electric car owners. #electriccar

Navigating the aftermath of an Uber or Lyft accident involving a pedestrian can be overwhelming. Here's what you should know: #UberAccidents #LyftAccidents #PedestrianSafety #InsuranceInsights #LegalAdvice **The Scenario:** Uber and Lyft offer convenience, but accidents involving their drivers happen. If you're hit as a pedestrian by one of their drivers, here's what to expect. **Insurance Coverage:** Uber/Lyft drivers operate under various phases that dictate insurance coverage. Periods 0-3 determine liability coverage for injuries and property damage, ranging from $50,000 to $1,000,000. **Driver's Responsibility:** Uber and Lyft drivers are financially responsible if found at fault. Their liability insurance comes into play after a claim submission to cover damages and injuries. **Proving Liability:** Gathering evidence can be challenging for pedestrians injured in these accidents. Seek help from witnesses, take photos if possible, and prioritize your health over collecting evidence. **Legal Assistance:** After an accident, contacting experienced Maryland car accident lawyers, like Rice, Murtha, and Psoras, is crucial. They can help gather evidence, request reports, and navigate the legal process. **Prioritize Your Health:** Injuries come first. Ensure you receive proper medical attention. Seeking legal support can assist in claiming compensation for your injuries and damages. If you or a loved one has been involved in an Uber/Lyft pedestrian accident, don't navigate this alone. Contact our team today for guidance and legal support. #LegalSupport #InjuryCompensation #StayInformed

Why isn’t GM’s OnStar Insurance* taking off?  Coverager® 🐿️'s analysis looks at the bleak state of GM’s insurance sales, noting that the consumer pain point probably isn’t big enough. While that is true, I disagree to look only at the ROI perspective for the company.  For a car manufacturer, there is a huge strategic angle to consider, with the company pain point growing every year:  The automotive market isn’t expanding as it once did, now it’s about who can increase their revenue share in an (almost) stagnant environment.  Bringing insurance “in-house” doesn’t only open up another revenue stream, it also has a huge strategic advantage:  𝟭. 𝗗𝗿𝗶𝘃𝗶𝗻𝗴 𝗮𝗳𝘁𝗲𝗿-𝘀𝗮𝗹𝗲𝘀 𝗿𝗲𝘃𝗲𝗻𝘂𝗲 Car manufacturers can increase their after-sales revenue ensuring that damaged cars get repaired at their repair networks. 𝟮. 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗯𝗿𝗮𝗻𝗱 𝗹𝗼𝘆𝗮𝗹𝘁𝘆: Ensuring a fast and satisfactory repair (rather than fighting with your insurance company over the phone) will massively increase brand loyalty, which will lead to the next car sale. 𝟯. 𝗢𝗽𝘁𝗶𝗺𝗶𝘇𝗲𝗱 𝗰𝗮𝗿 𝗱𝗲𝘀𝗶𝗴𝗻: While new car technology decreases claims frequency, the claims severity tends to go up for repairing this expensive new technology. Having an immediate feedback loop will allow car manufacturers to make changes to their car design, thus bringing down overall costs and thereby insurance premiums. The above are short-term considerations.  The advent of autonomous driving will also raise the question of liability when accidents occur while driving autonomously. Here, car manufacturers could either sit back and let the insurance industry (and courts) figure it out, or take an active role on structuring it for the future. I know which one I’d pick. #embeddedinsurance  *now rebranded GM Insurance | Original Coverager article by Avi Ben-Hutta in the comments.