BILL NUMBER: S5941A
SPONSOR: SKOUFIS
 
TITLE OF BILL:
An act to amend the general business law and the insurance law, in
relation to requiring peer-to-peer car sharing programs provide certain
insurance coverage
 
PURPOSE:
This bill modifies insurance requirements for peer-to-peer car-sharing
programs.
 
SUMMARY OF PROVISIONS:
Section 1: Amends subdivision 2 of section 901 of the general business
law, stating that peer-to-peer car-sharing companies shall provide
insurance coverage equal to the financial responsibility requirements
outlined in section 311 of the vehicle and traffic law. Removes the
requirement that peer-to-peer car-sharing programs maintain additional
liability insurance of at least $1.25 million for bodily injury, death,
or property damage. This section also removes the requirement for
supplementary uninsured/underinsured motorist insurance coverage of
$1.25 million per occurrence.
Section 2: Adds new subdivision 8 to section 901 of the general business
law which states that peer-to-peer car sharing programs must provide the
shared vehicle owner and shared vehicle driver the opportunity to
purchase additional insurance.
Section 3: Amends subdivision 1 of section 905 of the general business
law to add to the peer-to-peer car sharing agreement disclosures infor-
mation about the insurance available.
Section 4: Amends section 2131 of the insurance law to authorize peer to
peer car sharing administrators to provide insurance in the same manner
as rental car companies.
Section 5: Sets effective date.
 
JUSTIFICATION:
This change brings insurance requirements for the peer-to-peer car-shar-
ing industry in line with traditional rental car companies, creating
parity between the industries. This ensures that peer-to-peer car-shar-
ing programs are not subject to stricter requirements than rental car
companies.
 
LEGISLATIVE HISTORY:
New bill
 
FISCAL IMPLICATIONS:
None
 
EFFECTIVE DATE:
This act shall take effect on the one hundred eightieth day after it
shall have become a law. Effective immediately, the addition, amendment,
and/or repeal of any rule or regulation necessary for the implementation
of this act on its effective date are authorized to be made and
completed on or before such effective date.

Statutes affected:
S5941: 901 general business law, 901(2) general business law
S5941A: 901 general business law, 901(2) general business law, 905 general business law, 905(1) general business law