Every year one story involving insurance seems to capture the public's attention and this year that story was ridesharing.

The popularity of commercial ridesharing, which connects drivers and riders for a fare with the click of a button on a smartphone app, has skyrocketed across the country in recent years. However, transportation network companies like Uber and Lyft have not only "disrupted" the taxi's traditional drive-for-hire business model, but have also presented challenges for policymakers and insurers who have a vested interest in protecting the public.

The story that emerged this year had its roots in regulations passed by the California Public Utility Commission in the fall of 2013 and really emerged into public view New Years' Eve when a driver for Uber struck and killed a 6-year-old in San Francisco. Since then, as the transportation network companies expanded their operations across the country, controversy, cease-and-desist orders, fines for operating without a license, and legislative and regulatory battles have followed.