This is HUGE.
I was working years ago with an owner of several medallions. He told me there's only one player in town for taxi insurance, and the reason they can offer lower rates than any other insurer is that they have a strategy of attrition. They drag every lawsuit and claim until the claimant gives up or agrees to settle for much lower amounts.
I guess the chickens came home to roost. I wonder what this will do to fares.
https://archive.ph/MXpk4
