Intact Insurance, one of Canada's largest insurance providers, is collaborating with Uber to develop tailor made insurance products targeted at the ride-sharing industry.
It is too early to get into specifics about the product, but Intact is working in tandem with various levels of government and insurance regulators to ensure the coverage is in line with regulatory requirements.
Standard Ontario Auto Insurance policies do not cover ride-sharing operations, like Uber. The only way to access proper coverage currently would be a commercial policy from Facility Association.
As the "sharing economy" grows, it's great to see Intact, one of the insurers we deal with stepping up and responding to the market's demand.
Check back for updates as more details will be revealed in the coming months.