Heather C. Briccetti
It is uncommon that New York state strikes to move laws that will have a right away and optimistic influence on the Hudson Valley economy. It is even rarer that the invoice wouldn’t price taxpayers a penny and has bipartisan assist in each homes. Fortunately, such a piece of laws (A.6090/S.4280) exists and is supported by a variety of organizations, together with The Business Council of New York State. This explicit piece of laws, which might assist regulate the rising “sharing economy,” particularly because it pertains to cars and insurance coverage corporations, ought to be handed earlier than the tip of the yr.
The “sharing economy” is maybe finest exemplified by corporations like Lyft and Uber, however there are a complete host of companies simply ready for New York state to give them the regulatory instruments vital to open up store. Passing this laws, sponsored by Assemblyman Kevin Cahill, would give New Yorkers the companies they need whereas on the similar time giving insurance coverage corporations the assurances they want.
Anyone who has lived and traveled in cities like Poughkeepsie, Albany, Syracuse, Rochester and Buffalo is aware of that the present transit choices are woefully insufficient. The lack of constantly dependable public transportation stifles financial growth and leaves guests with a detrimental impression of our communities and our state.
Ride sharing and different “collaborative consumption” improvements have a number of advantages to shoppers and the economy as a complete. The utilization of underused property permits ride-sharers to spend much less cash and strikes extra folks with fewer automobiles. Ride-sharing saves sources, power and bodily house.
The progress of the “sharing economy” is indeniable. A current report in Forbes Magazine estimated that the income flowing by the “sharing economy” surpassed $3.5 billion, with progress expectations that exceeded 25 %. New York ought to be on the forefront in encouraging new financial fashions in a secure and accountable method. By requiring that group coverage insurance coverage be in place for automobiles participating in journey sharing, the Cahill invoice supplies a balanced strategy to the required protections for shoppers, insurers and the general public at giant.
New York has a historical past of main the nation when it comes to adopting legislative insurance policies that have an effect on actual change within the way all of us reside and work. Unfortunately, when it comes to the so-called “new economy”, New York’s insurance policies are falling woefully behind. It is time for the Empire State to present true management and permit its residents to make the most of the advantages know-how is affording us all.
Heather C. Briccetti , is president and CEO of The Business Council of New York State, Inc.