Leaked documents show Uber is having losses at greater rates than revenues

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mimico_polak said:
So the guy drives without proper insurance, gets in an accident, claim denied, and now he wants sympathy because he can't get resolution?

Sorry but I can't have much sympathy for this guy. I'm all for these platforms, and ride sharing, and I like the idea of uber....however make sure you're properly covered if you're carrying people for profit.
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but part of the deal with uber is you can't have commercial insurance. but for your insurance company to cover you for making money picking people up and delivering them you need commercial insurance. no different than if you were a taxi driver or a courier.
 
Yeah, the problem is Uber is being deceptive, because they're saying "you don't need it, we have you covered" whereas Ontario law says you must. They're inducing people to break the law. A lot of people see what Uber says and don't know any better.
 
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Well this is an interesting development:

http://newsroom.uber.com/toronto/2015/09/innovative-ridesharing-insurance/

Looks like Uber is working with Intact Insurance to develop an insurance policy geared towards ride-sharing. So I suspect given all the bad press lately, and the inevitability of defeat at the hands of regulators, they are throwing in the towel with regards to their insurance claims.

It will be interesting to see if it will be cheap enough to still attract Uber drivers and at the same time comprehensive enough to satisfy regulators.
 
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That's huge news... Someone from Intact is going to get mysteriously taken out by a cab I bet.
 
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