Legislation addressing insurance gaps for commercial rideshare drivers has been signed by South Dakota Gov. Dennis Daugaard, the Property Casualty Insurers Association of America (PCI) reported.
House Bill 1091 was approved by the South Dakota Legislature March 10, 2016.
PCI said South Dakota is now the 32nd state to approve a law requiring drivers to carry insurance for all phases of the ridesharing experience.
HB 1091 is 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,” said Melanie Smith, PCI state affairs regional manager. “We applaud the governor for quickly signing this legislation into law and we appreciate the hard work of Representative Mark Willadson and Senator Deb Peters who championed this bill through the legislative process.”
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