Uber has cleared another hurdle in its attempt to become regulated.
Ontario’s insurance regulator approved coverage for drivers using ride-hailing services like Uber today.
The Insurance Bureau of Canada says it’s the first coverage of its kind in the country.
Aviva Canada will begin offering coverage for drivers that carry paying passengers in their own vehicles after getting the go ahead from the financial Services Commission of Ontario.
The insurer says it is an addition to its personal auto policy and will be available to drivers licensed for at least six years, who spend up to 20 hours a week participating in ride hailing, and for a maximum of eight occupants.
Aviva says it will be working with regulators across the country to make this insurance available in other provinces.
The annual cost is rumoured to be as low as $600, and depends on a driver’s current insurance costs, their driving record, vehicle type, registered region, and other factors.
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