The NYC Taxi & Limousine Commission (TLC) held a Board of Commissioners meeting and vote at 10am today, Wednesday, January 29th. The Board unanimously voted to approve new rules related to:
Wait time restrictions for FHVs (wheelchair accessible vehicles (WAVs)) ✅
Interior advertising provider licenses ✅
Insurance requirements for TLC-licensed vehicles ✅
To access the recording directly, click here.
Summary
Although the Commission meeting and vote lasted only about 12.5 minutes, there was notable commentary from TLC Chair David Do, TLC Board Commissioner Paul Bader, and even a “point of order” request by Voyager Global Mobility (VGM)’s Jeremy Moskovitz ahead of the Board vote on new insurance regulations.
As we’ve discussed, the proposed (now passed) insurance rules primarily impact large TLC rental companies such as VGM’s Buggy and Fast Track, along with their commercial insurance partner, INSHUR. These companies developed an innovative hybrid admitted / non-admitted policy structure to comply with NYC TLC insurance requirements. The Board voted to ban these policy structures, effective January 1, 2026.
“This new rule is not to take effect for a year. One of the main reasons for that…is that in the very recently released governor’s budget and budget bills, there are three proposed new bills that will have a direct impact on the insurance requirements for all taxis and for-hire vehicles…by not having this go into effect for another year, we would have opportunities, if need be, relative to what happens on the state level, to make any adjustments that we feel would be appropriate”.
- Paul Bader, NYC TLC Board Commissioner
Chair Do also provided an update on New York State’s efforts to address concerns related to the NYC for-hire vehicle (FHV) insurance market, mentioning productive meetings with Adrienne A. Harris, Superintendent of the Department of Financial Services (DFS), the state’s insurance regulator. We discussed some of New York Governor Kathy Hochul’s proposed legislation related to NYC TLC insurance in yesterday’s article and video
Also available on YouTube ⬇️
TABLE OF CONTENTS
0:00 Intro 0:55 Reminder of NYC TLC public hearing (Wed, Feb 5th) 2:12 NYC TLC Chair Do commentary on NYS actions related to TLC insurance market 2:55 Rule proposals 6:38 Base license applications 7:05 TLC Board Vote - Wait time restrictions for FHVs, wheelchair accessible vehicles (WAVs) ✅ 7:42 TLC Board Vote - Interior advertising provider licenses ✅ 9:30 TLC Board Vote - Insurance requirements for TLC-licensed vehicles ✅
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