☂️📈 TLC Insurance Costs Set To Increase 8% to 10%+
American Transit, largest NYC FHV insurance provider, set to increase PIP & APIP insurance base rates 20%, plus make other changes. Given 50% market share, other TLC insurers will likely follow suit
Based on an American Transit (ATIC) “Producer Bulletin” (or a notice insurance brokers who sell ATIC policies receive), TLC liability insurance premiums could increase 8% to 10%+ for many NYC drivers and fleets, ahead of the annual renewal period early next year.
This is a BIG DEAL, as for-hire vehicle (FHV) insurance is a core expense for many TLC-lice…
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