Lyft CEO David Risher said on Monday that Lyft will save approximately $200 million in insurance costs due to the deal the company made with California lawmakers last month, which is paving the way for ride-hail drivers in the state to unionize.
“What we got in return was enormous,” Risher said on stage on Monday at Fortune’s Brainstorm Tech conference in Park City, Utah. “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.”
