"What we got in return was enormous,"
"Our insurance rates will go down, and we will save approximately $200 million, which we will pass back to drivers in terms of better pay for drivers."
"Often we're not. Often when drivers make more money, Lyft makes more money. Lyft makes more money, drivers make more money. It's inextricably linked."
Lyft expects to save approximately $200 million in insurance costs following a deal with California lawmakers that enables ride-hail drivers to unionize. The company intends to pass the insurance savings back to drivers as improved pay. The agreement allows drivers to organize for higher pay, benefits, and certain worker protections while lawmakers agreed to support legislation reducing ride-hail insurance costs. Uber and Lyft previously spent about $200 million advocating to classify drivers as independent contractors. Lyft frames drivers' and company financial interests as aligned, arguing that higher driver pay and company revenue are linked.
Read at Fortune
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