The New York City Council will introduce legislation this week that would drastically reduce the amount of insurance coverage taxi and ride-share vehicles are required to maintain, looking to contain potential fallout from the insolvency of the city’s largest taxi insurer.
Northern Manhattan City Council Member Carmen De La Rosa wants to lower the minimum personal injury protection coverage for commercial ride-share cars in New York City from $200,000 to $50,000. The change would bring insurance requirements in line with levels mandated for ride-share vehicles in the rest of the state, help