06/29/2016 12:40 EDT | Updated 06/29/2016 12:59 EDT

Uber Drivers In Alberta Will Be Insured By Intact Financial


EDMONTON — Uber Canada says Alberta's new insurance policy for ride-hailing companies is a key step toward it resuming service in the province.

Intact Financial Corp. (TSX:IFC) says it will begin offering coverage for Uber drivers in Alberta on Friday.

Uber says it has not set a date for a possible relaunch in the province.

Uber suspended its operations in Edmonton and Calgary in the last year as the province and municipalities wrangled with the company over how to regulate the industry.

New insurance policy

Alberta announced a new insurance policy on Tuesday for ride-hailing companies that requires them to provide up to $2 million in third-party liability insurance, with optional collision or comprehensive coverage.

Both companies say they will work with regulators in Ontario and Quebec to provide similar insurance coverage later this year.

"As of today, we do not have any specific information on a possible relaunch of our services in cities across the province (Alberta),'' Uber spokesman Jean-Christophe de Le Rue wrote in an email Wednesday.

"We continue to review the new regulations announced by the Alberta government yesterday and their impact on our operating model.''

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