Insurance companies in Ontario are offering truck drivers a new type of coverage that offers more coverage for serious injuries and is more cost-effective than what is available in many provinces.
Ontario is one of a handful of provinces that have been experimenting with ways to provide coverage for truck drivers after the Highway Traffic Act came into force in October 2014.
The Insurance Bureau of Canada (IBC) says the new insurance policy offered by trucking company Ontario Trucking Co. (OTC) will cover drivers who have been involved in collisions, have had an accident or are suspected of being involved in an accident.
The policy will also include other types of coverage, such as roadside assistance, which will include medical and dental care, and transportation services, which include meals, transportation assistance and repairs to vehicle.
“The drivers are at risk, but the benefits outweigh the costs,” said David Leblanc, CEO of the company.
“It’s a very simple solution that’s going to be very effective,” he said.
OTC says it is working with other trucking companies in the province to provide the coverage and is making plans to expand to other cities.
The new coverage comes as a result of a pilot program with other companies.
Trucking insurance has been in decline for years.
In 2015, the province began offering the provincial insurance program through its Ontario Truck Insurance program, which was the only option for trucks in the GTA.
The Ontario Truck Insurers Association, which represents the country’s largest truck insurance company, said the new policy will be offered in all cities in Ontario.
But it said the company will not be offering it in rural areas.
It will be available in small towns in southern Ontario.
“We will continue to work closely with our provincial insurance regulators, insurance regulators in other jurisdictions and the province of Ontario to ensure that all truckers are protected,” said Mike Sajak, the CEO of Ontario Truckers Union, the union representing truckers in the city of Mississauga.
The insurance company said it has been offering the insurance policy for two years.
It says it expects to be in service by July 2019.