December 1, 2017 by Canadian Underwriter
Saskatchewan has introduced legislation allowing for ridesharing services to operate in the province, with an interesting insurance twist.
The Vehicles for Hire Act requires the ridesharing company to file written evidence of a motor vehicle liability insurance policy with a minimum limit of $1 million, Saskatchewan Government Insurance (SGI) reported. The company must also insure every vehicle used to provide service under the Automobile Accident Insurance Act.
The act sets out the framework for ridesharing services, also referred to as “transportation network companies” (TNC) in the legislation, SGI said in a release Friday. These services provide a vehicle and driver for pre-arranged transportation through a digital platform or app.
Every TNC must also provide the following to an insurer:
Among the other items in the legislation: