TORONTO/CNW/ - Responding to the growing use of ride-sharing services and the need to protect both passengers and drivers, Aviva Canada – one of the country's leading providers of home, automobile, leisure/lifestyle and business insurance – is pleased to confirm the Financial Services Commission of Ontario (FSCO) approval of its 'first of a kind' coverage for drivers that carry paying passengers in their own vehicles.
The coverage, now available for Ontario drivers, is a simple addition to an Aviva-insured personal auto policy. Aviva will be working with regulators across the country to make the solution available in other provinces in the coming months.
"We're excited to offer a simple and affordable solution within a driver's existing personal auto policy, thereby providing drivers and passengers with absolute peace of mind that they have insurance coverage while ride-sharing," said Greg Somerville, President & CEO of Aviva Canada. "We have had significant interest from brokers who are getting contacted by their customers asking for the Aviva ride-sharing solution."
This new coverage from Aviva, available within an existing Aviva policy, is changing the face of ride-sharing in Ontario. The coverage will protect ride-sharing drivers from the moment they initiate looking for passengers through to collecting and dropping off those passengers. Eligibility for coverage will be based on some simple underwriting criteria that will include, for example, maximum of eight occupants (including driver), driver licensed for a minimum of six years, no other commercial use, and other requirements.
The coverage will be available for part-time drivers who spend up to 20 hours a week participating in ride-sharing. The cost for the additional coverage will be calculated using factors such as time spent ride-sharing, area driven and driving record.
Aviva takes no position on the regulatory or public policy questions raised by ride-sharing, which are best left to elected government officials. Nor does Aviva's decision to offer any insurance product in the marketplace constitute an endorsement of any company or any individual protected by our products.