Colorado regulators consider more rules for Uber, Lyft ride-sharing services

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

DENVER -- The Colorado Public Utilities Commission held a hearing Tuesday about whether more regulations are needed for popular ride-sharing companies like Uber and Lyft.

Drivers for the companies are already required to undergo background checks and provide supplemental insurance.

The new regulations under consideration would treat the ride-sharing services more like taxis.

There is concern that the convenience of a company like Uber may come with some risk to people who want rides in terms of safety, as well as the drivers themselves.

"The drivers may be putting their homes and their personal assets on the line because the insurance coverage may not be right," says transportation expert Matthew Daus.

Despite the risks, plenty of people are choosing to use the ride-sharing services. Uber has been valued as high as $40 billion right now.