Uber unveils pay-by-mile insurance coverage for its drivers

LA Times
January 28, 2015

[…] The arrangement, which has been approved by state insurance regulators, seeks to close what critics call a “coverage gap” that could leave Uber drivers and passengers, other vehicle occupants and pedestrians unprotected by insurance after an accident.
Uber’s valuation at $40 billion
Uber has raised $1.2 billion in a new round of funding, giving the ride-sharing service a $40-billion valuation.

San Francisco-based Metromile’s product will let Uber drivers use their personal insurance for the miles they drive when they are cruising on their own time or waiting to be hooked up with a paying passenger. […]