The Return of Uber

As our nation celebrates its’ 149th birthday July 1st, 2016, Alberta participates in a dual celebration; the birth of our nation and the rebirth of the Uber service to our province.

Controversy and debate seemed to shadow Uber the moment of its arrival in Alberta many months back. One point of discussion was the insurance rules – or lack thereof. Was the driver insured and rated properly? Would coverage be provided to the passenger in the event of a collision/injury loss? Ultimately, this was a contributing factor for their departure.

Now, however, Uber fans can rejoice. The alternate “cab” is back. Effective July 01, 2016 the provincial government, together with the Alberta’s Superintendent of Insurance, have developed and provided Alberta with a new insurance policy for transportation network companies (TNC). Alberta’s participating brokers will be first out of the gate to provide TNC insurance with a policy that provides adequate coverage and will provide benefit to both driver and passenger.

The formula is rather simple, and can be broken down into 3 steps:

  1. TNC driver activates TNC app with no passengers. $1,000,000 liability provided, no physical damage coverage.
  2. The 2nd and 3rd step activated when passenger and fare are established. $2,000,000 liability provided, with optional collision and/or comprehensive coverage.

Are you Uber insured? Enquire about our Uber Insurance today. For more detailed information about the policy, visit here.

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