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Insurance Firm Working with Uber on New Products

One of Canada's largest auto insurance providers is working to tailor products for the Uber ride sharing service.

Intact Financial Corp. (TSX:IFC) says its intention is to market the products under the Intact and Belairdirect brands.

Intact says more details will be provided as the products become available.

Uber offers an alternative to conventional taxi services, causing controversy and sometimes friction in communities where it operates.

Insurance coverage for Uber drivers has been one of the most contentious issues in Canada, although Uber has said its policies are adequate.

Intact shares opened Tuesday's trading up $1.24, or 1.3%, to $93.74, within a 52-week trading range of $70.52 to $95.77.