Topic: Growth Stocks

Stock Pickers Digest Hotline – Thursday, April 22, 2016

Article Excerpt

INTACT FINANCIAL CORP., $91.81, symbol IFC on Toronto, continues to announce innovative insurance policies aimed at new—but growing—markets. The company has reached an agreement with peer-to-peer car rental company Turo to provide insurance in Alberta, Ontario and Quebec. Turo started up in 2009 and now operates in 2,500 cities around the world. Car owners in Alberta, Ontario and Quebec can now register with the website to rent out their vehicles to other Turo members. The company uses the number of cars available on any given day to set rental prices for that day. It also considers data such as a car’s market value and location as well as the time of year. Turo receives 25% of the rental fee, which includes a charge for the owner’s insurance coverage during the rental. Intact has modified its insurance offerings to cover the cars of Turo members as commercial vehicles instead of private automobiles. The car-sharing service will likely continue to spread across Canada, and Intact’s…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.