By Forum Staff
Mayor Eric Adams on Monday signed Intro. 1050 into law, which limits the amount of personal injury insurance coverage that the City Taxi and Limousine Commission may require for licensed vehicles. This legislation will prohibit TLC from requiring the vehicles it licenses to have personal injury protection (also known as no-fault) liability coverage over 200 percent of the amount required by State law.
Intro. 1050—sponsored by City Councilwoman Carmen De La Rosa (D-Manhattan)—both keeps high personal injury protection coverage in place, while increasing affordability. New Yorkers use for-hire vehicles more than any other city in America, Adams noted, and by rightsizing the required PIP coverage, both drivers and passengers will still have the highest PIP protections in the state.
Photo Courtesy of William Alatriste/NYC Council Media Unit
The legislation was sponsored by Councilwoman Carmen De La Rosa.
“Many of these working-class New Yorkers are immigrants trying to build a better life here in the Big Apple, but for too long, our TLC-Licensed drivers have had to pay higher rates for no fault or personal injury insurance for their vehicles, burdening drivers and owners with thousands of dollars in costs and putting pressure on their monthly bills,” Adams said. “Today, we’re changing that—by signing this legislation, we are putting money back into the pockets of drivers, limiting the amount of liability coverage they can be required to have, so they can continue to spend their money on the essentials: bills, groceries, rent, and medicine. Our drivers deserve their fair share, and we are giving it to them. I want to thank our partners for their work on this important issue.”
