AB.TNC Flashcards
Identify the purpose of the Alberta’s Standard Policy Form (SPF9).
SPF9 provides auto insurance for Transportation Network Companies (TNCs) and their authorized TNC drivers.
What insurance must a driver have who provides ride-sharing services?
- personal insurance (for normal personal use)
- insurance through their TNC (for periods when they are providing ride-sharing services)
Describe the 4 ‘use periods’ related to SPF9.
PERIOD 0:
personal use - driver is NOT logged in to the TNC app
- (driver’s own insurer is liable for accident)PERIOD 1
: driver IS logged in to the TNC app, but has not accepted a ride
- (if driver’s own insurer denies claim, then TNC insurer is liable and no COLL cov)PERIOD 2
: driver HAS accepted a ride and is en route (TNC insurer is liable)PERIOD 3
: passengers are IN vehicle (TNC insurer is liable)
Identify coverage triggers that BEGIN and END accident benefits coverage under SPF9.
- BEGIN coverage: driver logs in the TNC app
- END coverage: driver logs out (or last passenger exits vehicle)
Identify 3 pieces of information that TNC must make available to the public and consumers.
- LICENSE: a proper municipal license
- POLICY: valid auto insurance policy (on website or driver’s smart-phone)
- IIF (Insurance Information Form) via driver’s smart-phone
Identify the purpose of IIF (Insurance Information Form)
provide basic information to ride-sharing passengers about the driver and their insurance coverage
Briefly explain the basic layout of IIF (4 items)
NAME of insured / insurer
POLICY #
POLICY effective / expiration date
VEHICLE description
Identify 2 situations where SPF9 purchased by a TNC would NOT provide coverage when the driver IS logged in
- carrying street-hailed passengers
- transporting cargo
In the event of an accident, describe the exchange of information required between the TNC, insurance providers, & brokers (5 items)
ACCIDENT INFO: dates, times, circumstances
ELECTRONIC INFO: precise times when driver was logged in and logged out of TNC app
Give 2 examples of technology that are disrupting the insurance and transportation marketplace
- UBI (Usage-Based Insurance)
- ride-sharing (Ex: Uber)
Identify a similarity between UBI and ride-sharing
Both require NEW TECHNOLOGY to function
- UBI requires a device installed in your car to capture driving data
- RIDE-SHARING technology requires a smart-phone app to connect providers and customers
Identify a difference between UBI and ride-sharing
UBI is a way for insurance customers to LOWER THEIR RATES based on good driving habits
RIDE-SHARING technology requires a NEW TYPE OF INSURANCE POLICY to cover the use of personal vehicles to carry paying customers.
Identify 2 issues/dangers associated with UBI technology
UBI: collects personal data, so data PRIVACY & TRANSPARENCY regarding use of UBI data must be addressed
Identify 2 issues/dangers associated with ride-sharing technology
RIDE-SHARING must ensure that drivers have PROPER COVERAGE to protect drivers and consumers
COMPETITIVE IMPACT to traditional taxi-drivers and taxi companies could be devastating