New insurer focuses on sharing economy

CSAA Insurance Group on Tuesday launched Mobilitas Insurance Co., a commercial insurer focused on the sharing economy and mobility sector that has partnered with Lyft Inc. to provide ride-sharing coverage in 11 states from Oct. 1.

Mobilitas, which is based in Glendale, Arizona, and a wholly owned subsidiary of CSAA, will create customized insurance coverages available online or via an app for businesses and individuals in the sharing and mobility space, CSAA said in a statement.

Under the partnership with Lyft, Mobilitas will provide a blanket auto policy for Lyft drivers in Colorado, Idaho, Minnesota, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, Wisconsin and Wyoming.

The emerging on-demand and sharing economy represents one of the largest growth opportunities of the future, Eric Ummel, general manager of Mobilitas, said in the statement.