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New York Says Cab, Rideshare Insurance Rates to Rise 25%
Insurance Journal· 2025-12-16 14:00
New York officials have told rideshare companies, driver representatives and others in the for-hire vehicle industry that insurance policy rates will rise by an average 25% over the next three years, according to people with knowledge of the state’s plans, likely sending passenger fares up as a result.The state has asked carriers to reset — essentially raise — their fees to actuarially justified levels as they work to stabilize the industry, which has been reeling from the insolvency of its largest provider ...