Risk management company
Aon Risk Solutions announced July 4 that it is now offering customisable personal line insurance policies specifically for Uber’s ridesharing drivers in Alberta.
The new insurance product was launched days after Uber was cleared to operate legally in the province.
Compared to other personal line policies on the market, Aon’s product does not have any restrictions related to driver age, number of years licensed, or the amount of ridesharing hours spent weekly.
Aon, Uber’s official insurance broker, worked closely with the transportation network company (TNC) and other insurers to create a personal line insurance solution that can be fine-tuned to meet specific driver needs. The product not only fulfills the needs of Uber drivers, but also their passengers as well. The policy also meets the standards set by the Superintendent of Insurance of Alberta.
"Ridesharing continues to grow at a rapid pace and is changing how we travel," said Aon Risk Solutions Canada senior vice president of personal lines Caroline Mills-White. "As a result, insurance must evolve to meet the changing needs of drivers and passengers alike in Alberta.”
In late June, the Alberta government introduced new insurance policy reform for ridesharing companies like Uber. The new legislation requires TNC drivers to have $2 million worth of commercial coverage, which comes into effect whenever a driver engages his or her respective TNC app to pick up a customer.
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