TORONTO _ Uber drivers in Ontario are now insured from when the app is turned on to when passengers exit the vehicle.

Ontario’s insurance regulator has approved the policy from Intact for private vehicles transporting paying passengers through the ride-hailing service.

The Financial Services Commission of Ontario says the  “blanket fleet coverage” addresses a “critical insurance gap” for the industry.

The new policy covers all Uber drivers, passengers and vehicle owners when Uber is in use, and when the app is off the vehicle owner’s personal auto insurance policy applies.

The Ontario government recently approved a regulatory change under the Insurance Act that allows insurance companies to develop commercial fleet insurance policies for ride-hailing companies.

FSCO’s CEO says in a bulletin posted to the regulator’s website that he anticipates new insurance policies that build on what has been approved for Intact will be filed in the future.

“Going forward, I want to emphasize that the sharing economy in general, and the automobile insurance implications in particular, will continue to evolve and will require innovative solutions and responses by all stakeholders, including FSCO, that respond to technological advances,” Brian Mills wrote.

“At the same time, I want to emphasize that approved solutions may also need to evolve and adapt as circumstances and legal requirements change. Therefore, any policy form or endorsement that I approve is also subject to ongoing review.”

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