Is American Transit, Largest NYC Ridehailing Insurance Company, in Trouble?
Actuarial report finds TLC insurance giant American Transit effectively insolvent. American Transit rejects report stating "consistently met all of its obligations for nearly 50 years"
S&P Global reported that an actuarial assessment on American Transit, the largest NYC for-hire transportation (aka TLC) liability insurance company, concluded the company's reserves to cover unpaid losses and loss adjustments falls short by over $400 million. Without getting too technical, the actuarial report essentially concludes the total claims Amer…
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