Under the Graves Amendment, car rental operators have the right to subrogate on liability payments caused by your renters. Are you exercising this right to lower your loss runs?
More than 10 years after its enactment, we have answers regarding the interpretation of the Graves Amendment and a blueprint to use it to limit liability.
With some 700 attendees this year, the Car Rental Show demonstrated the renewed vigor in the domestic market and the industry’s rapid international growth.
The law, which was passed in 2005, had been challenged by the Association for the American Justice in September through a petition for review.
Graves Law, originally passed in 2005, prohibits states from imposing vicarious liability on non-negligent owners of rented and leased vehicles. A group of lawyers recently filed a petition for review and responses to the petition are due by Oct. 21.
In Vargas v. Enterprise Leasing Co., the Florida Supreme Court rejected the plaintiff's argument that Florida statutes that set caps on vicarious liability are "financial responsibility laws" that are preserved by the Graves Law.
During its panel at the Car Rental Show, the American Car Rental Association board worked through recall legislation, threats to vicarious liability reform and what’s next with no-show fees (let’s start calling them guaranteed reservations).
Bob Barton, president of the American Car Rental Association, asks the car rental industry for discipline, consensus and cooperation on the things that, if implemented, will benefit the industry as a whole.
Faulkner brings more than 35 years of experience in car rental, as a corporate area manager, franchisee, independent RAC owner and legislative advocate.
Alberta's new regulation will limit the liability of non-negligent owners of vehicles operating under both long-term lease and short-term rental agreements.