Canadian Underwriter

Intact is developing coverage for Uber drivers

September 8, 2015   by Canadian Press

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Canada’s largest P&C insurer is working to tailor products for the Uber ridesharing service.

Intact says its intention is to market the products under the Intact and Belairdirect brands, and will provide more details of the products as they become available.

“With the growing popularity of the sharing and on-demand economy, we are adapting our product range to offer innovative solutions to meet the changing needs of consumers,” said Louis Gagnon, Intact’s president, service & distribution.

Read: Auto insurance for the ride-sharing world

Although Uber has said its $5 million insurance policies are adequate, coverage for Uber drivers has been a contentious issue.

In July, the Insurance Bureau of Canada said drivers who work for Uber should verify their vehicles are insured for commercial use. It said some policies provide coverage for only personal automobile use and insurers could reject a claim if the vehicle is used to generate income.

The industry group, which counts Intact as a member, issued that recommendation after the Alberta government concluded that Uber’s insurance policies didn’t meet that province’s requirements.

Read: Uber’s $5 million policy “won’t help drivers”

Read: Albertans warned against using Uber because of scanty coverage 

With files from CI Top Broker staff




This story was originally published by Canadian Insurance Top Broker.