Uber, Lyft Lobby to Reduce California Insurance Requirements

Ride-sharing companies Uber Technologies Inc. and Lyft Inc. are lobbying California state legislators to reduce collision insurance requirements for vehicles on their platforms.

The companies argue that insurance is a growing portion of the fares paid by passengers because of rising premiums and redundant state requirements.

Insurance amounts to about 45% of the fares that Uber charges in Los Angeles, a company official recently told a state Senate committee, and Lyft announced this week in an email to customers that it would begin itemizing the cost of insurance in its receipts.

The two companies are targeting a decade-old state requirement ...