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Economy and Business


Ohio examining regulations for rideshare companies
Lyft, Uber expanding into Cincinnati as Lt. Gov. Mary Taylor meets with insurance commissioners
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
In The Region:
Ohio is considering regulating two of the nation’s biggest ride-sharing companies as they start to do business in Cleveland, Columbus and Cincinnati. WKSU’s Kabir Bhatia reports.
Ohio examining regulations for rideshare companies

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Lyft and Uber use smartphone apps to connect people needing a ride with drivers who are in the area and signed up for the service.

In April, Lt. Gov. Mary Taylor issued a consumer warning to passengers that, in the event of an accident, they may not be covered by a driver’s personal insurance policy because participating in Lyft or Uber could be considered a commercial activity.

Both Uber and Lyft recently expanded into Cincinnati, where cabbies are required to carry $100,000 in insurance.

Today, Taylor is at a meeting of state insurance commissioners, and one of the topics is whether to regulate ride-sharing companies.

Lyft said in a statement that the company carries a $1 million commercial liability policy to cover drivers and passengers for the duration of a ride. That’s in addition to the driver’s required personal insurance.

Lt. Gov. Taylor says she hopes early next year to hold a meeting with Ohio-based insurance company CEOs to discuss the issue further.
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