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updated 08/31/14 03:16 PM
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From the Editors of CU Weekly

California Governor Jerry Brown
updated 09/18/14 05:06 PM
Relieves CUs of Collateral Burden
California Gov. Jerry Brown signed legislation today mandating baseline insurance requirements for Transportation Network Companies (TNCs)—a move that will help credit unions burdened by a significant reduction in collateral value when accidents occur to these companies’ drivers.

The new law also requires these companies to provide clear disclosures outlining potential gaps in personal insurance auto-lines coverage to drivers who are using their own vehicles to provide services.

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