James Lynch Testifies Before New Jersey Legislative Committee Discussing Carsharing Insurance Regulations
Partner James Lynch testified before the New Jersey Senate Commerce Committee on Thursday. In his official role as President of the New Jersey Association for Justice, Jim frequently testifies before the legislature.
The legislative committee met to discuss a bill to regulate carsharing companies. The bill only requires vehicles to carry the state’s minimum auto insurance requirements. However, Jim is asking the legislature to reconsider and require the companies to carry $1.5 million in liability coverage.
“Since most traditional auto insurance will not cover a car driven using a peer-to-peer service, the peer-to-peer company should always be the primary insurance during the time the car is being shared,” Jim said in his testimony.
If the legislature agrees to Jim’s suggestion, carsharing services would be required to carry the same liability insurance limits as rideshare companies like Uber and Lyft.