OKLAHOMA CITY, Okla.—Legislation related to ride-sharing networks such as Uber or Lyft and negotiated at a corporate level with designs on becoming model legislation for other states is moving through the Oklahoma State Legislature, according to the Cornerstone CU League.
For credit unions, the primary concern with these networks is confusion over insurance coverage—specifically, when the ride-sharing company’s commercial insurance is in effect or when the driver’s personal insurance is primary, the league noted, adding, “Ambiguity in the area could create considerable delays in claims processing.”
The Cornerstone league reported that last week a committee substitute was adopted and is headed to the full House for consideration. The title was stricken from the bill, meaning it is still available for amendments. The current strategy is to eventually include language to place regulation of the industry under the auspices of the state, thereby preempting the patchwork of inconsistent ordinances that have begun to develop at the municipal level, the league said.