Canadian Uber drivers may need to check their auto insurance policies

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Insurance Bureau of Canada wants Uber drivers to make sure they are properly insured The Insurance Bureau of Canada is advising drivers that work for ride-share company Uber to check their auto insurance policies. The agency suggests that drivers should ensure that their insurance policies provide coverage for their vehicles that are being used for commercial purposes. In most cases, however, conventional policies do not provide commercial coverage for most drivers, as these policies only provide coverage for vehicles being used for personal purposes. As such, they may be exposed…

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Auto insurance rates continue to rise in Ontario

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Despite government efforts, premiums are on the rise in Ontario Auto insurance premiums in Ontario, Canada, continue to rise, despite promises being made by the government. In April of this year, the government had announced that insurance rates were down by 0.95% during the first quarter of the year, which is a far cry from the average 15% reduction that it had promised to achieve by next month. In Ontario, premiums continue to rise, and government action may not be enough to mitigate the issue. Several companies seek to raise…

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UberX generates auto insurance controversy in Canada

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UberX has received criticism for the insurance coverage it provides its drivers Ride-share company UberX has generated some controversy in Canada concerning auto insurance. Toronto’s taxi industry has voiced concerns about the insurance coverage that UberX provides its drivers. Per the company’s policies, its drivers are not required to purchase commercial auto insurance. There are concerns that the company does not ensure that its drivers have liability coverage either, which could place drivers and their passengers in a risky position in the event of a major accident. All rides on…

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Auto insurance premiums continue to rise in Ontario

Toronto Ontario Canada Auto Insurance News

Insurance premiums in Ontario may be affected by for profit clinics Ontario is home to the highest auto insurance premiums in Canada, and rates for many drivers continue to rise, even if they have immaculate driving records. There are many factors that affect the cost of insurance coverage, but for-profit medical centers and rehabilitation clinics may be one of the reasons why premiums are on the rise. Notably, bodily injury claims in Ontario are significantly higher than they are in other provinces, perhaps due to the over-utilization of medical services…

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Employment insurance claims are on the rise in Canada

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Claims have increased by nearly 30% in Alberta The number of those living in Alberta, Canada, applying for employment insurance benefits is on the rise, according to a report from Statistics Canada. Employment insurance in Canada is similar to unemployment insurance in the United States. Those applying for benefits receive temporary financial assistance while looking for work or improving their skills. Throughout Canada, employment insurance claims have risen by an average of 6.7%. Report shows that more than 500,000 Canadians currently receive employment insurance benefits According to the report from…

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Uber continues to tackle auto insurance challenge

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Uber is at the heart of controversy involving auto insurance coverage Uber is the subject of new auto insurance regulations that may go into effect in the United States, of which it is opposed to. The ride-share company notes that one of its greatest challenges is ensuring that its drivers have the appropriate level of insurance coverage. In recent years, ride-share companies have been criticized for the insurance policies they offer to their drivers, they have also generated some controversy in several states, especially among taxi operators who claim that…

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Insurance industry sees a shift in oil transportation regulations in the US

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Federal agency believes that current insurance policies are unable to account for the cost of major train crashes and derailments The U.S. Department of Transportation has released a statement noting that insurance policies covering railroads that transport oil may not be sufficient. The statement suggests that these policies are unable to account for the costs associated with crashes and derailments of oil trains. Last week, the federal agency proposed new safety rules that would require railroads to hold a higher level of insurance coverage, which may be good news for…

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