most of you are failing to take into account that the only person that is actually getting rich are the ride sharing companies themselves.
insurance takes into account an inherent amount of risk and spreads it. when these transportation network companies (TNCs) first started, the contract between the TNCs and the individual drivers were horribly skewed in favor of the TNCs. essentially, many of the TNCs consider themselves to be "tech companies" and actively DENY that their drivers are employees, and the drivers' cars are associated with the TNC.
although the TNCs required that their drivers maintained insurance, it is difficult to say whether the insurance would actually cover damage or injury resulting from an accident. the way that many of the personal motor vehicle insurance policies are written, the policy does not provide coverage (or limits coverage) in situations where the driver is using their vehicle for a commercial purpose.
this means that, if anything were to happen while the passenger was in the car, the TNC driver might be totally liable for all of the damage/injury resulting since insurance might not provide any indemnity. at the same time, the TNC contact with the driver expressly rejects indemnity too.
one could argue that the driver should just drive safely, but we all know that even the safest driver is prone to accidents with the other drivers on the road.
in the end, a lot of the TNC drivers are simply rolling the dice and hoping that they won't get into an accident, especially one that would involve substantial bodily injury or death to their passenger. of course there is commercial motor vehicle insurance, but given its high cost, it might actually cause there to be no real money to be made for TNC drivers.
now think of it from the perspective of the passenger. you're riding in a car from a person that only has to maintain a basic drivers license. unlike taxi cab drivers, this person does not have to get a special license in order to operate. now, if this TNC driver gets you seriously hurt in an accident, you better hope that the person has a lot of money (aka "deep pockets") because you're definitely not going to be able to collect from the TNC, nor the TNC driver's insurance company. if this person is young, doesn't own a house, and barely gets by paycheck-to-paycheck, then you might be shit out of luck as you'll have to front the cost of your own medical bills and you'll have to find other ways to make up for your lost wages (and possibly lost employment).
in a worst case scenario, you're permanently disabled and prevented from working, but the TNC driver only covered $30k in damages, of which 1/3 was used to pay for the legal costs. and all of this is a result of you wanting to save a few dollars and take a TNC ride over a normal taxi, which is required by law to have commercial insurance policies.