SoylentNews is people
SoylentNews
Insurance industry officials warn that Uber drivers don't [always] have the proper accident coverage and are putting themselves and the public at risk when they get behind the wheel. That stark message, and a call for the city to regulate Uber drivers, came during what a pair of insurance officials and Councillor Jim Karygiannis called a "technical briefing" at Toronto City Hall Thursday.
They said many drivers for the controversial ride-sharing service are hiding their activity from insurers. By law, drivers must declare to their insurance company if they're driving passengers for hire so the insurer can provide the proper policy and accident coverage.
[...]
But Philomena Comerford, CEO of Baird MacGregor Insurance Brokers, said in many cases this isn't happening with Uber drivers. That means Ontario's motorists could be hit with higher premiums because of "significant and unexpected" injury claims.
"This problem comes at time when the insurance industry is working hard with the Ontario government to reduce personal consumer automobile insurance rates which do not contemplate this commercial activity," she said.
MacGregor said Uber's $5-million supplementary policy covers the company, but not the drivers themselves.
(Score: 2, Insightful) by nobodyknowsimageek on Friday July 31 2015, @10:37PM
You are neglecting to take into consideration that most drivers have "uninsured motorist" on their insurance. If if the Uber driver has an accident with another insured driver, and the Uber driver's insurance will not pay, then that other driver's insurance may have to cover the loss. Thus costs go up and specifically the cost of uninsured motorist goes up; most companies will REQUIRE that you have this coverage, it is not an option.
(Score: 0) by Anonymous Coward on Saturday August 01 2015, @03:23PM
At least here, the "underinsured motorist" coverage only covers medical claims for the people in the vehicle, and not the damage they caused. I have health insurance, I don't care if my passengers do, so I would drop this coverage.