Insurance by the numbers by John Q. Duffy A new taxi and limousine driver support group has been formed to provide members of these industries reduced commercial auto insurance rates. Providing other benefits and perks for association members is also being considered. At an October 7th meeting, John Walker and Ian Matheson presented a proposal prepared for the Taxi and Limousine Drivers Association. This particular meeting was called to explain changes to Ontario vehicle insurance costs and coverage mandated by the government of Ontario, effective September 1, 2010. The meeting was told these changes are complex and require additional premium payments if extra coverage is selected. Essentially, people will tend to get less coverage for the premiums they pay, but can pay extra if they desire expanded or extended benefits. The legislation aims, according to Ian Matheson, Vice-Chair and Director of T&L Insurance Services Limited, to reduce accident claims payouts while, "stabilizing costs." Matheson said the group was formed by H&S Fleet Services Incorporated about a year ago to act as an industry advocate, and to, "help develop a more competitive marketplace through the encouragement of new insurance entrants and alternatives." H&S Fleet Services Incorporated and the Taxi and Limousine Drivers Association are the largest providers of fleet services to the taxi and limousine sectors in Ontario, and major advocates for the interests of those businesses. Gail Souter, General Manager of Beck Taxi, commented that insurance has long been a major issue for taxis in Toronto because, "insurance providers keep cancelling out on us." She sees the H&S message to be, "We have to get proactive and provide insurance companies with a risk management plan." She also recognizes that new taxi drivers have a serious problem getting insurance as they must provide at least two years claims free cab driving experience before the insurers will consider covering them. Yet, Souter notes, the City keeps graduating new drivers, knowing full well these new graduates into the industry will have a tough time getting insurance. Matheson told the meeting the TLDA is a not-for-profit "occupational association" formed to provide a broad range of services to and act as advocate for taxi and limo drivers and owners. Among the services offered to members is access to automobile insurance through a fully accredited group-marketing plan. He said a highly non-competitive insurance marketplace dominated by only two or three insurance companies has hit the taxi and limousine industries hard in Ontario. Matheson said, "We want to be fully transparent and compliant. Some groups sell insurance, but are not compliant (with provincial rules)." T&L is the program administrator and H&S Fleet Services is the exclusive fleet services provider of insurance coverage for taxis and limousines. John Walker, the lawyer for the group, told the meeting that the insurance industry is paying out $1.42 in claims for every $1 it receives in premiums from cabs and limousines. These losses, Matheson said, "are not sustainable.
Taxi News is Toronto-based company (Ontario, Canada) with a phone number 4164772426. Our data show that the company is located at the address: 36 Fairmount Cres. The company has a web site: www.taxinews.com.
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