“For drivers – many of whom invested what little we have in our cars and expensive Taxi & Limousine Commission (TLC) licenses – the prospect of losing our right to work would be devastating. And as a taxpayer, I know New Yorkers should not be forced to fund a private company’s failures. Due to an uncompetitive insurance market, drivers are, on average, personally paying between $4,000 and $5,500 per year in premiums that eat into their earnings. And not only are drivers and fleet operators affected, New York consumers pay more for their rides when premiums are high, when fraudulent claims go unchecked, and when insurance requirements are excessive. The TLC’s insurance mandates were meant to help and protect drivers like me, not force us into buying insurance we don’t want or need.”
– Carol Ramnarine, FHV Driver
Source: Crain’s New York Business
