The Insurance Bureau of Canada is weighing in on car-sharing service Turo coming to the province.

Some concerns have been expressed about its effects on a person’s regular insurance, with Turo recently coming out to clarify some of the information.

In a statement to VOCM News, Amanda Dean, Vice President Atlantic Region with the bureau, says car-sharing platforms have been working in other provinces for a number of years and “there is no reason to suppose it will not work in NL.”

She says as the sharing economy expands, there will be a need for new insurance products, and the industry is willing to adapt. However, companies will make their own decisions in terms of the risks they can and cannot support.

She says there is an added challenge in this province because there are “far fewer” insurers operating here.

Since last week’s announcement, Dean states that conversations in the industry are “happening quickly” and local insurers look forward to continuing to support their clients and the others they work with.