Insurers to meet with taxi operators Friday
Members of the insurance industry are to meet with representatives of public passenger vehicle owners and operators on Friday after one company announced it would accept no new business from that group.
Last week Friday Advantage General Insurance said as of this week it would only continue to renew and process insurance coverage for existing public passenger vehicles.
The company said this was because its losses from public passenger vehicle claims have been above tolerable levels.
Vice-president of the Insurance Association of Jamaica, Peter Levy, says Friday’s meeting will be used to discuss solutions to address the high risk associated with taxis.
Levy says taxi operators have no need to fear that they could be without insurance should other companies also refuse to accept new business from them.
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