New York City Mayor Eric Adams has signed into law legislation reducing the auto-insurance liability coverage that for-hire vehicles must carry.
The new law reduces the amount of personal injury protection (PIP), or no-fault, insurance coverage that the city’s 74,000 Uber, Lyft, yellow taxi, and livery drivers have to buy from the current $200,000 to $100,000 per person.
The $200,000 in PIP coverage that drivers in New Y…