Lyft and Mobilitas Insurance Companies Further Expand Commercial Insurance Partnership

Rhea-AI Summary

Mobilitas has expanded its insurance partnership with Lyft (LYFT), increasing ride-sharing commercial insurance coverage from 18 to 23 states, effective October 1, 2022. This expansion also includes coverage for Lyft's delivery business in 43 states and Lyft Flexdrive in 19 states. Mobilitas aims to enhance risk management solutions tailored for the evolving mobility sector, emphasizing safety for riders and drivers. The partnership strengthens the integration of services between Lyft and Mobilitas, enhancing the insurance framework designed for the rideshare and delivery market.

Positive

• Expansion of ride-sharing insurance coverage from 18 to 23 states.
• Inclusion of coverage for Lyft's delivery services in 43 states.
• Enhanced risk management solutions tailored for Lyft's evolving business needs.

Negative

• None.

New business lines and territories extend mobility alliance

GLENDALE, Ariz.--(BUSINESS WIRE)-- Mobilitas, the group of commercial insurance companies dedicated to providing insurance protection to the unique and emerging demands of the sharing economy and mobility sectors, announced that it was selected by Lyft to expand ride-sharing commercial insurance coverage from 18 states to 23, effective October 1, 2022.

“We are pleased to expand our partnership with Lyft by continuing to provide customized risk management and claims expertise that protects Lyft’s growing and critical business needs within the rideshare and delivery sector,” said Julie Brown, general manager of the Mobilitas companies. “Our digitally-focused solutions and commitment to service excellence uniquely qualify us to ensure rider and driver safety on the Lyft platform.”

In addition to the enhanced ride-share collaboration, Mobilitas insurance products provide commercial coverage for Lyft’s delivery business in 43 states, as well as coverage for the Lyft Flexdrive program in 19 states. The inclusion of these new business lines further strengthens the business integration between Lyft and Mobilitas insurance companies and is also effective October 1, 2022.

“As our business continues to grow and evolve, we are committed to implementing cutting-edge risk management solutions that address our mobility needs,” said Curtis Scott, vice president of Customer Platform at Lyft. “Mobilitas delivers innovative solutions and reliable claims handling specifically designed for our rideshare and delivery business lines.”

Mobilitas insurance companies provide custom-built solutions for the sharing and mobility sectors that are digitally focused and simple to use. In addition to providing coverage for ridesharing, Mobilitas insurance offers coverage built for last-mile delivery fleet owners and package and food delivery, while continuing to grow in developing mobility sectors, including those focused on autonomous vehicles.

“Delivering integrated, purpose-built insurance products enables us to continue addressing the commercial needs of emerging mobility solutions,” said Brown. “With a focus on aligning our risk mitigation expertise and capabilities with the rideshare and delivery sectors, Mobilitas insurance products provide an essential foundation for the development of new ways to move people and goods.”

For more information, visit www.mobilitasinsurance.com.

About Lyft:
Lyft (NASDAQ: LYFT) was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. Its transportation network brings together rideshare, bikes, scooters, car rentals and transit all in one app. We are singularly driven by our mission: to improve people’s lives with the world’s best transportation.

About Mobilitas Insurance Companies:
The Mobilitas insurance companies offer commercial insurance built from the ground up to meet the unique needs of the mobility market, and provide creative, technology-driven insurance solutions that protect business needs. The Mobilitas insurance companies are part of CSAA Insurance Group, which has a financial strength rating of “A” (excellent) from AM Best, the insurance industry’s primary financial rating firm. More information is available at www.mobilitasinsurance.com and on social media (Facebook, Instagram, LinkedIn, Twitter).

View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005255/en/

Liam Collopy, EVP, Stanton PR

Lcollopy@stantonprm.com / 415-517-9760

Source: Mobilitas

FAQ

What recent changes occurred in Lyft's insurance coverage?

Lyft expanded its insurance coverage from 18 to 23 states, effective October 1, 2022.

How does Lyft's partnership with Mobilitas benefit its business?

The partnership provides customized risk management and claims expertise to enhance safety for both riders and drivers.

In which states does Lyft now have delivery business insurance?

Lyft has commercial insurance coverage for its delivery business in 43 states.

What is the effective date of the insurance coverage expansion for Lyft?

The effective date of the expansion is October 1, 2022.