There is a recent boom in a brand new industry — ridesharing services such as Uber and Lyft. As more and more vehicles with pink mustaches appear on the streets, more and more traffic accidents will occur in which the challenging question, “Who is financially responsible?” will be asked.
Taxis and Limousines
In traditional transport services such as taxis and limousines, there are requirements for commercial insurance policies for the transportation companies and their drivers. Even in situations where the taxi driver is considered a sub-contractor of the taxi company, there are still typically state and local requirements for large insurance policies to be in place. Essentially, if someone is injured as a the result of a motor vehicle accident caused by a negligent taxi driver, there will virtually always be a large insurance policy available to cover their injuries and property losses.