This Week In Rideshare: Uber Verifies Riders, Insurance Crisis and Waymo Talks With Hyundai.
Uber announces a new feature, a looming crisis for drivers and Waymo gets friendly with Hyundai. LegalRideshare breaks it down.
UBER VERIFIES RIDERS
Uber gives drivers some peace of mind. The Verge reported:
All Uber customers will have their personal information, like their name and phone number, cross-checked against third-party databases to make sure there aren’t any potential red flags. In addition, riders can opt to upload their government-issued ID to the Uber app to further verify their identity. Once they are verified, customers will have a special badge attached to their account that will be visible to drivers before they accept trip requests.
Uber began testing rider verification in a number of cities earlier this year and was satisfied with the results: “the majority of riders” in those pilot markets got verified, and those that were “tend to give drivers 5 stars more often,” the company said. “Riders who are verified also get fewer serious complaints from drivers.”
INSURANCE CRISIS IN NYC
A looming insurance crisis could affect tens of thousands of drivers. The New York Times reported:
The largest insurer of taxis and Ubers in New York City is on the verge of a financial collapse that could force thousands of cars out of service and lead to higher costs for drivers and passengers.
The insurer, American Transit Insurance Company, provides coverage for about 74,000 for-hire vehicles in the city, or more than 60 percent of the available cars, according to city records.
In its latest financial filing, the privately owned company reported that it was insolvent, with more than $700 million in losses from existing and projected claims from past accidents — a huge hole that has been growing for years in part because of questionable financial practices, according to state officials.
That means American Transit does not have enough money in reserve to pay out those claims despite years of collecting premiums on those policies. Instead, the company has managed to continue operating by using money coming in from new premiums to help cover those costs, essentially leaving its current clients underinsured in the event of an accident, state officials said.
WAYMO IN TALKS WITH HYUNDAI
Waymo is looking at Hyundai to build its cars. Reuters reported:
Officials at Waymo and Hyundai Motor have met more than three times to discuss a plan to use Hyundai’s Ioniq 5 electric vehicles for Waymo’s sixth-generation self-driving technology, the report said, adding that the plan includes replacing offerings, opens new tab from China’s Zeekr with the Ioniq 5 models.
The report came as President Joe Biden’s administration last week locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, which will take effect on Sept. 27.
Waymo has purchased vehicles from Stellantis (STLAM.MI), opens new tab and Jaguar Land Rover and integrated its technology into the base vehicles to offer autonomous ride-hailing services in Phoenix, San Francisco and Los Angeles.
Waymo is also testing its next-generation self-driving car technology using vehicles from Zeekr, the electric car brand of China’s Geely Automobile Holdings.
LegalRideshare is the first law firm in the United States to focus exclusively on Uber®, Lyft®, gig workers, delivery and e-scooter accidents and injuries. Consultations are always free.
