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On June 16, 2020, Buckle Corp consummated the purchase of Gateway Insurance Company, an insurer licensed in 47 states to provide insurance to full-time and part-time limo, taxi and rideshare drivers, and providing digital fronting services to the InsureTech community.
The pace of the enactment of new laws and regulations with respect to the operation of Transportation Network Companies is steadily advancing. In the past several years, Transportation Network Companies (TNCs) have emerged where drivers use their personal vehicles to provide passengers a ride arranged through a smartphone App for a fee. The person looking for the ride can access…
Private passenger auto policies commonly excluded liability coverage for “livery” use starting around the middle of 1960, and the courts customarily applied this exclusion where the private passenger auto was used as a taxi (i.e. gypsy cab). As the courts eroded the effectiveness of the exclusion, and for-profit use of the private auto expanded, insurers have modified their policy language…