TNCs Autonomous Vehicles (AVs) & California's Low Cost Auto Insurance Program

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1 TNCs Autonomous Vehicles (AVs) & California's Low Cost Auto Insurance Program Chris Shultz, Deputy Commissioner CA Department of Insurance VISION: Insurance Protection for all Californians. MISSION: We act to ensure vibrant markets where insurers keep their promises and the health and economic security of individuals, families, and businesses are protected. 1

2 TNCs: Why we care 1) KGO KCRA 2) Non-professional drivers 3) Not covered by personal auto insurance 2

3 TNCs: Clarifying the Terms TNC = companies which facilitate use of personal vehicles to transport passengers for a fee TNC Periods Period 1 Period 2 Period 3 Definition Pre-Match Match accepted -> passenger pick up Passenger in the vehicle 3

4 TNCs: Personal Auto Exclusions Differ ISO: while it is being used as a public or livery conveyance. Sample No. 1: while used to carry persons or property for a charge, or while available for hire by the public. Sample No. 2: while used to carry persons or property for a charge 4

5 TNCs: CDI s Actions Reviewed livery exclusions & policies Public hearing on insurance coverage gaps Insurance Commissioner recommendations to CPUC & Legislature 5

6 TNCs: Final Insurance Requirements AB 2293 (Bonilla) Enacted September 2014 Period 1: TNC-specific driver endorsement for 50/100/30 liability; TNC must maintain $200K excess Periods 2/3: TNC primary liability at $1 million Personal auto provides no coverage Potential gaps: physical damage, UM/UIM in Period 2, medical payments Effective 7/1/15 6

7 TNCs: Nov Guidance to Carriers Early window opened November Explain the basis upon which the rates were developed. Encouraged insurers to continue any optional coverages (UM/UIM, comp/collision, med pay, etc.) & continue those optional coverages into periods of TNC activity. 7

8 TNCs: Nov Guidance to Carriers Selective TNC Arrangements Practical concern that many TNC drivers have multiple applications open in the pre-match period. An endorsement that provides coverage only when the driver is partnered with a single TNC will create coverage confusion in the event a driver has multiple apps open at the time of a collision. Data Reporting Insurers must provide the Department with loss data at a time and in a format prescribed by the Department in order to allow the Department to prepare the study required in new PUC

9 TNCs: Interesting Issues Isolating miles (personal/commute miles, Period 1 miles, Period 2/3 miles)? Will insurers and TNCs provide all the data necessary to complete/release studies in CA and other states? 9

10 TNCs: Approved Products Chart at Insurer Liability Coverage for TNC Driving Coverage while driving for which TNC? Date Available to consumers Days to approve Metromile (National General) Period 1 only UberX (and other TNCs as long as UberX app is open) 2/18/ Farmers Speciality Insurance Company Period 1 only All TNCs 05/28/ CSAA All Three Periods All TNCs 01/01/ Met Direct Property & Casualty All Three Periods Lyft (and other TNCs as long as Lyft app is open) 10/05/ Mercury Period 1 only All TNCs 11/22/ USAA Group Period 1 only All TNCs 01/06/16 48 State Farm Period 1 only All TNCs 03/21/ Allstate Group Period 1 only All TNCs 3/9/

11 Autonomous Vehicles 11

12 AVs: Timeline + Goal 2015/16 DMV Regs AVs Launch CDI s Goal: Insurance available the day DMV approves private operation Volkswagen Group of America Mercedes Benz Google Delphi Automotive Tesla Motors Bosch Nissan Cruise Automation BMW Honda Ford Zoox Inc. Drive.ai Inc. 12

13 AVs: Liability - Car or Driver? How will violations will be charged for Private Operation and Driverless Operation phases? Insurance tiers off determination of liability CDI s principally at fault regulation impacts insurance driving safety record and good driver discount 13

14 AVs: Claims & Rates Fewer accidents, more severity? Subrogation & products liability How much data is needed to rate properly? How are carriers handling semiautonomous features now? 14

15 AVs: Data Collection Privacy concerns re: underwriting, advertising, location May be useful for determining whether driver or AV fault CDI s private passenger auto rating factor regulations restrict an insurer s use of technological devices (10 CCR ) i3 15

16 Slide 15 i3 10 CCR (c)(2)(F)(5): "An insurer shall only use a technological device to collect information for determining actual miles driven under the Second Mandatory Factor. An insurer shall not use a technological device to collect or store information about the location of the insured vehicle." Does not apply to use of device for emergency road service, theft service, map service or travel service. ids_guest, 1/28/2014

17 AVs: Proposition 103 (1988) Entire scheme is based on good drivers paying less Amendments require 2/3 vote of legislature to further its purposes 16

18 AVs: Prop 103 Good Driver Discount Proposition 103: at least 20% below the rate the insured would otherwise have been charged. 10 CCR sec (a): 20 percent less than the lowest rate available to a comparable driver who is not a good driver. 17

19 AVs: Prop 103 Mandatory Factors 1. Insured s driving safety record Principally at fault relevant here 2. Insured's miles driven annually 3. Insured s years driving experience 18

20 AVs: Optional Rating Factors (1) Type of vehicle; (2) Vehicle performance capabilities, including alterations made subsequent to original manufacture; (3) Type of use of vehicle (pleasure only, commute, business, farm, commute mileage, etc.); (4) Percentage use of the vehicle by the rated driver; (5) Multi-vehicle households; (6) Academic standing of the rated driver; (7) Completion of driver training or defensive driving courses by the rated driver; (8) Vehicle characteristics, including engine size, safety and protective devices, damageability, reparability, and theft deterrent devices; (9) Gender of the rated driver; (10) Marital status of the rated driver; (11) Persistency; (12) Non-smoker; (13) Secondary driver characteristics; (14) Multi-policies with the same, or an affiliated, company; (15) Relative claims frequency. (16) Relative claims severity. 19

21 AVs: Can AVs & Prop. 103 be Compatible? Option 1: Rate under existing scheme optional factors But most weight must be given to mandatory factors separate class plan Like antique autos or motorcycles Option 2: Group or master policy bundled with purchase/lease Option 3: Change statute or regulations Need to know DMV + insurer plans so CDI can plan CDI is not sponsoring 2016 legislation; regs take >1 year 20

22 CLCA: Overview California Low Cost Automobile Insurance Program (CLCA) Established by the Legislature in 1999 Liability insurance at affordable rates for < 250% FPL Meets financial responsibility laws. Amendments effective 2015 made changes to the program. Commission increased from $35 to $50. Vehicle value increased from $20,000 to $25,000. Eliminated the requirement that drivers insured in the CLCA program be continually licensed for three years, allowing AB 60 license holders to qualify for the program (for an additional surcharge). Copyright 2016 California s Low Cost Auto Insurance 21

23 22

24 CLCA: CAMPAIGN STRATEGY 23

25 CLCA: CONSUMER ELIGIBILITY 24 Copyright 2016 California s Low Cost Auto Insurance

26 CLCA: CONSUMER STATISTICS Top 5 Questionnaire Languages: English: 92% Spanish: 7% Chinese: 0.3% Vietnamese: 0.1% Korean: 0.1% Top 5 Counties with Eligibility Responses Los Angeles: 26% San Bernardino: 10% Riverside: 9% Not specified: 8% San Diego: 7% Top 5 Ethnicities White: 28% Mexican/Mexican American: 21% Other Hispanic/Latino: 7% Black/African American: 7% Not specified: 4% Top 5 Referral Sources: DMV Website: 20% Friend/family member: 13% DMV: 12% Google/Internet Search: 12% Internet/Website Advertisement: 11% Copyright 2016 California s Low Cost Auto Insurance 25

27 CLCA: SUCCESS STANDARDS The rates generate sufficient premiums to cover losses and expenses incurred by CLCA policies issued under each respective county program. It benefits underserved communities throughout California. Nearly 87% of the policies issued in 2015 were to applicants with household income at or below $20,000 per year. It reduces the number of uninsured motorists. Approximately 96% of new policies assigned were to applicants who were uninsured at the time of application. CLCA causes motorists to purchase a policy, other than CLCA, which meets the requirements of California law. At least 703 motorists visited a producer because of the program s advertising and left with a higher coverage automobile policy. Copyright 2016 California s Low Cost Auto Insurance 26

28 CLCA: QUESTIONS What s broken about this program? Eligibility too tight? Doesn t offer physical damage? Too confusing? Too expensive? Uptick in AB 60 (undocumented) drivers? Where are these customers going, and why? Can CLCA serve hard-to-serve customers, or customers who won t buy other products and services, while standard/non-standard takes the rest? Copyright 2016 California s Low Cost Auto Insurance 27

29 Questions? CHRIS SHULTZ Deputy Commissioner Community Programs & Policy Initiatives (916) office / (916) mobile 28

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