Circular Letter No. 29 (1998)
October 22, 1998
All Insurers Licensed to Write Motor Vehicle Insurance in New York State
Rate filings for taxi and livery public automobiles
The Department of Motor Vehicles requires that insurance coverage for taxi and livery public automobiles expire on the same day as their motor vehicle registrations. All such registrations expire on February 28th.
Pursuant to Section 2328 of the Insurance Law, rate filings for public automobiles are subject to prior approval of the Superintendent. Insurers that provide coverage for this market should review their loss experience to determine if their rates are appropriate for their book of business. In order to assure adequate time for the Department to review the filings, insurers that intend to make a rate filing, including those insurers that intend to make an initial filing, are hereby requested to do so prior to November 15, 1998.
Please direct any questions concerning this Circular Letter to the following:
Mr. Elliot Cohen, Principal Actuary
New York State Insurance Department
25 Beaver Street
New York, New York 10004
Telephone (212) 480-5504
Very truly yours,
Assistant Deputy Superintendent
& Bureau Chief