Aviva Canada announced on Wednesday that it is expanding its ride-sharing specific auto insurance product to Quebec, if the province agrees to accept the coverage. The company said the solution is an “affordable and convenient insurance product that would bridge the insurance gap in Quebec”.
In January, Aviva Canada launched its ride-sharing insurance policy as an Ontario exclusive product that was later accepted by the Financial Services Commission of Ontario (FSCO). The company is looking for similar facilitation in Quebec and said its coverage is dependent on provincial government (Autorité des marchés financiers (AMF)) allowing the product to be distributed.
When the Ontario coverage was launched, Aviva said that it was seeking to roll out the product in other provinces, and the new policy is mirrored off the Ontario solution.
That means the coverage is geared to ride-sharing drivers who work 20 hours or less per week and can be bought as an addition to an existing personal auto insurance policy. The coverage is based on “simple underwriting criteria” like no other commercial use, licensed for six years or more, and a maximum of eight passengers.
This coverage will be available for drivers that spend up to 20 hours a week participating in ridesharing. The cost for the additional coverage will be calculated using factors such as time spent ridesharing, area driven and driving record, Aviva Canada explained.
“We have developed a simple and affordable product designed for Quebec drivers and passengers that will give them absolute peace of mind while ridesharing, if the government goes ahead with a dual regulation regime and pending regulatory approval,” said Martin-Eric Tremblay, senior vice president for Quebec and Atlantic Canada for Aviva Canada. “We’re thrilled to be providing innovative insurance solutions that meet the ever-changing needs of Quebec consumers.”
Aviva points out that it no way endorses Uber or has an opinion on the ride-sharing market in general, the company says it is merely filling a gap in the market.