AB.TNC Flashcards

1
Q

Identify the purpose of the Alberta’s Standard Policy Form (SPF9).

A

SPF9 provides auto insurance for Transportation Network Companies (TNCs) and their authorized TNC drivers.

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2
Q

What insurance must a driver have who provides ride-sharing services?

A
  • personal insurance (for normal personal use)
  • insurance through their TNC (for periods when they are providing ride-sharing services)
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3
Q

Describe the 4 ‘use periods’ related to SPF9.

A

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)

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4
Q

Identify coverage triggers that BEGIN and END accident benefits coverage under SPF9.

A
  • BEGIN coverage: driver logs in the TNC app
  • END coverage: driver logs out (or last passenger exits vehicle)
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5
Q

Identify 3 pieces of information that TNC must make available to the public and consumers.

A
  1. LICENSE: a proper municipal license
  2. POLICY: valid auto insurance policy (on website or driver’s smart-phone)
  3. IIF (Insurance Information Form) via driver’s smart-phone
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6
Q

Identify the purpose of IIF (Insurance Information Form)

A

provide basic information to ride-sharing passengers about the driver and their insurance coverage

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7
Q

Briefly explain the basic layout of IIF (4 items)

A

NAME of insured / insurer
POLICY #
POLICY effective / expiration date
VEHICLE description

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8
Q

Identify 2 situations where SPF9 purchased by a TNC would NOT provide coverage when the driver IS logged in

A
  • carrying street-hailed passengers
  • transporting cargo
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9
Q

In the event of an accident, describe the exchange of information required between the TNC, insurance providers, & brokers (5 items)

A

ACCIDENT INFO: dates, times, circumstances
ELECTRONIC INFO: precise times when driver was logged in and logged out of TNC app

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10
Q

Give 2 examples of technology that are disrupting the insurance and transportation marketplace

A
  • UBI (Usage-Based Insurance)
  • ride-sharing (Ex: Uber)
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11
Q

Identify a similarity between UBI and ride-sharing

A

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
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12
Q

Identify a difference between UBI and ride-sharing

A

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.

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13
Q

Identify 2 issues/dangers associated with UBI technology

A

UBI: collects personal data, so data PRIVACY & TRANSPARENCY regarding use of UBI data must be addressed

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14
Q

Identify 2 issues/dangers associated with ride-sharing technology

A

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

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