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Suncorp's Vero Launches Pay-per-Kilometer Rideshare Insurance in Australia

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Suncorp Group (ASX:SUN) said Tuesday that Vero, part of Suncorp, partnered with Uber and Cover Genius to launch pay-per-kilometer rideshare insurance in Australia for eligible driver-partners.

The company said in a statement that the new product option covers driver-partners during both rideshare trips and private use. The policy includes cover for vehicle damage, theft, or loss of the vehicle.

Eligible drivers can apply for the insurance directly through the Uber Driver app, it added.

Its shares fell nearly 1% in recent trading on Tuesday.

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