FL | On June 23, the governor signed CS/CS/HB 1039 – Act Relating to Transportation Network Companies into law.
The new law recategorizes for-hire vehicles such as limousines and luxury sedans as Transportation Network Companies (TNCs) if they meet the requirements and elect to be regulated as a TNC.
If they are regulated as a TNC, they would be permitted to purchase the appropriate coverages from an eligible surplus lines insurer, which has a superior, excellent, exceptional, or equivalent financial strength rating pursuant to F.S. 627.748(7)(f).
The new law went into effect upon signature.