What it does

CA 26 04 amends the Single Interest Automobile Physical Damage Insurance Policy (CA 26 01 or CA 26 02) to add an exclusion for autos used for public or livery passenger conveyance or on-demand delivery services, the rideshare and app-based delivery exposures. It is the single interest counterpart of CA 23 45 on the business auto, motor carrier and auto dealers forms. Its editions are 11 16 and 11 20; Maine, Montana, Michigan and Puerto Rico have state versions.

Who sees it

Lenders and finance companies whose borrowers might use financed vehicles to drive for transportation network companies or delivery platforms.

Selling notes

For lender clients, explain that losses to collateral while the borrower is driving for a rideshare or delivery platform are excluded under this amendment. Lenders concerned about that exposure need to confirm what the platform's coverage provides for the borrower's vehicle or require borrowers to carry endorsements that cover it.