HyreCar and Y-Risk, a brand of The Hartford, have renewed their parntership that supplies HyreCar with a multi-faceted liability insurance program.
The renewed insurance program, which was previously underwritten by Y-Risk on behalf of AIG, now resides with The Hartford. This move was enabled by the acquisition of Y-Risk, which became part of The Hartford in December 2018, and has partnered with HyreCar since 2017.
Working closely with Y-Risk to maximize efficiencies in its insurance program, HyreCar significantly reduced its costs, secured increased capacity, and enhanced insurance features that allow two new service tiers that better address the needs of customers. HyreCar’s insurance fills a coverage gap during the time the vehicles are rented on the HyreCar platform but are not yet in service ride-hailing groups like Lyft and Uber, and food or package delivery services like Postmates and Grubhub.