Calls for government to take over insuring of cabbiesTaxi premiums have risen from a few thousand to up to HK$100,000 in recent years. The taxi trade urges authorities to step in, taking over the insuring of taxis. Owners Association Yuen Yeung-Wai said the taxi premiums have increased massively in the past year, ranging from HK$50,000 to HK$100,000. “The Insurance Authority should regulate these insurance companies from increasing the premiums, the increase is unreasonable!” Yuen said, calling for the government to step in or even taking over the insuring of taxis. The taxi trade has also filed an application to authorities this Monday, demanding a fare bump of a HK$6 insurance surcharge to cover the rising cost of premiums.

Source: The Standard October 22, 2020 08:15 UTC