Toronto’s draft rules on regulating both ride-hailing services such as Uber and conventional taxicabs have been released, and for brokers, the news is good
UberX drivers are to be required to carry the same $2 million liability coverage as cab drivers; that is one of the chief takeaways Toronto’s draft rules to regulate the hotly-contested ride-sharing industry. Limo drivers are also to be subject to the requirement to take out the insurance.
Also among the draft rules: while cab drivers are to pay an annual fee of $290 for their licensing – a reduction of 17% -- Uber and its ilk would be subject to a one-time fee of $20,000 as well as an annual $10 licencing fee per driver and a fee per trip of 20c.
All drivers would be subject to criminal background checks; new cab drivers would no longer be required to take the currently mandatory 17-day training program; Ubers would be subject to an annual safety inspection at a licensed garage, as are limos.
No regulation is to be introduced regarding prices drivers would be allowed to charge; taxis will be permitted to discount fares. Street hails will remain the province of conventional taxi cabs only.
