South Dakota recently became the 32nd state to approve a law that requires ridesharing drivers to carry insurance for all parts of a ridesharing experience.
South Dakota Gov. Dennis Daugaard signed House Bill 1091 into law in late March after the South Dakota Legislature approved, it, the Property Casualty Insurers Association of America (PCI) reported.
House Bill 1091 was approved by the South Dakota Legislature March 10, 2016, the Property Casualty Insurers Association of America noted in its announcement of the legislation milestone. It’s based on a model developed by the National Conference of Insurance Legislators, according to PCI.
The bill requires $50,000 per individual and a total of $100,000 in coverage per accident when the driver is logged into the app but does not have a passenger.
HB 1091 requires $1,000,000 in coverage when a passenger is in the vehicle.
“Many insurers have jumped at the opportunity to design products to meet the needs of this new insurance market,” Melanie Smith, PCI state affairs regional manager, said in prepared remarks “We applaud the governor for quickly signing this legislation into law and we appreciate the hard work of Representative Mark Willadsen and Senator Deb Peters who championed this bill through the legislative process.
*A version of this story appeared previously in our sister publication Insurance Journal.