NY A06576

Requires peer-to-peer car sharing program administrators to maintain liability insurance coverage at three times the financial responsibility requirements set forth in the vehicle and traffic law's definition of "owners' policy of liability insurance"

Removes previous requirements that mandated additional insurance of $1,250,000 for bodily injury/death and property damage, as well as $1,250,000 supplementary uninsured/underinsured motorist coverage

Mandates peer-to-peer car sharing administrators either provide or offer the opportunity to purchase additional liability insurance to both shared vehicle owners and shared vehicle drivers for each sharing period

Requires peer-to-peer car sharing agreements to disclose coverage limits, exclusions, and descriptions of additional insurance options available to owners and drivers

Grants the superintendent authority to issue limited licenses to peer-to-peer car sharing program administrators, allowing them to act as agents for authorized insurers to sell excess liability, accident/health, and personal effects insurance