Alberta - Transportation Networks Flashcards
Purpose of Alberta’s SPF9 (Standard Policy Form 9)?
SPF9 provides auto insurance for Transportation Network Companies (TNCs) and their authorized TNC drivers.
What insurance must a driver have in order to provides ride-sharing services?
In addition to personal insurance (for normal personal use), the driver must have insurance through their TNC (for periods when they are providing ride-sharing services).
Describe the ‘use periods’ related to SPF9. (4)
PERIOD 0: personal use (driver’s own insurer is liable for an accident)
PERIOD 1: driver IS logged into the TNC app, but has not accepted a ride (if driver’s own insurer denies claim, then TNC insurer is liable, excl PD)
PERIOD 2: driver HAS accepted a ride and is en route for pickup (TNC insurer is liable)
PERIOD 3: passengers are IN vehicle (TNC insurer is liable)
Pieces of information that TNC must make available to the public and consumers? (3)
LICENSE: a proper municipal license
POLICY: valid auto policy (on website or driver’s smart phone)
IIF (Insurance Information Form) via driver’s smart phone
Purpose of the IIF?
In order to provide basic information to ride-sharing passengers about the driver and their insurance coverage.
Basic layout of an IIF. (4)
NAME of insured/insurer
POLICY #
POLICY effective/expiration date
VEHICLE description
Items of post-accident information whose exchange must be facilitated between the TNC, insurance providers and brokers.
FOR ACCIDENT: dates, time, circumstances
ELECTRONIC INFO: precise time when driver is logged in and out of the TNC app
Examples of technology that are disrupting the insurance and transportation marketplace.
UBI
Ride-sharing
Similarity between UBI and ride-sharing.
- both require NEW TECHNOLOGY to function:
UBI requires a device installed in your car to capture driving data whereas RIDE-SHARING technology requires a smartphone app to connect providers and customers.
Difference between UBI and ride-sharing.
UBI is a way for insurance customers to LOWER THEIR RATES based on good driving behaviour; RIDE-SHARING technology requires NEW TYPE OF INSURANCE POLICY to cover the use of personal vehicles to carry paying customers.
Issues and dangers associated with UBI technology.
UBI collects personal data so data privacy and transparency regarding use of UBI data must be addressed.
Issues and dangers associated with ride-sharing technology. (2)
RIDE-SHARING must ensure that driver has PROPER COVERAGE to protect drivers and customers.
COMPETITIVE IMPACT to traditional taxi drivers and taxi companies could be devastating.
