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Troubled New York Taxi Insurer Sues 180 Providers in Huge No-Fault Fraud Case

Dec 17 2024 // New York’s largest taxi insurer that is facing serious financial and regulatory challenges has filed a lawsuit seeking more than $450 million against medical providers it alleges have been part of a huge fraud scheme...

New York Considers Making Property Insurers Cover Taxi Claims Losses

Dec 12 2024 // New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans.That measure is one of several options...

Uber Warns NYC Response to Insolvent Taxi Insurer Exposes Drivers

Dec 11 2024 // Uber Technologies Inc. is asking New York City’s taxi regulator to reconsider proposed changes to commercial auto insurance requirements, saying they may unintentionally leave thousands of drivers in one of the...

2024 More of the Same in Commercial Auto Segment After $5B Net Loss in 2023

Dec 2 2024 // After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best report indicates further deterioration in the first half of 2024.Despite targeted underwriting initiatives, including...

Economic, Social Inflation Influence Drop in Commercial Auto UW Profits: Triple-I/CAS

Nov 18 2024 // Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net...

2024 More of the Same in Commercial Auto Segment After $5B Net Loss in 2023

Nov 14 2024 // After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024.Despite targeted underwriting initiatives, including...

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