(a) Maintain Insurance Coverage.
(1) Taxicab Owners must ensure that all of their Taxicabs are covered by liability insurance in the form of a bond or an insurance policy that fully complies with the New York State Vehicle and Traffic Law and the New York State Insurance Law, and TLC Rules.
(2) Owners must maintain all other forms of insurance required by law.
35 RCNY § 58-13(a) | Fine: $150 - $350 and/or suspension up to 30 days | Appearance REQUIRED |
(b) Submit Proof of Insurance. Every year in which an Owner files an application to renew the License of one or more Taxicabs, Owner must, at that time, provide the Commission with the name and address of the Owner's insurance carrier and the policy numbers for each of Owner's Taxicabs, along with proof of coverage.
35 RCNY § 58-13(b) | Fine: $100 | Appearance REQUIRED |
(c) Notification of Changes in Insurance Coverage. An Owner must notify the Commission in writing within 72 hours of any of the following:
(1) Receipt of notice that Owner's required liability insurance has been cancelled;
(2) A change of insurance carrier;
(3) A change in the policy number of Owner's liability insurance.
35 RCNY § 58-13(c) | Fine: $100 | Appearance NOT REQUIRED |
(d) Coverage Requirements.
(1) All Taxicab Owners must, for each of Owner's Taxicabs, maintain liability coverage through an insurance policy or a bond in amounts not less than the following:
(i) $200,000 per person, payable for those expenses specified in paragraphs 1, 2 and 3 of subdivision "a" of § 5102 of the New York State Insurance Law
(ii) $100,000 minimum liability and not less than $300,000 maximum liability for bodily injury or death, as these terms are described and defined in § 370(1) of the Vehicle and Traffic Law; and
(iii) $10,000 minimum liability for injury to or destruction of property.
35 RCNY § 58-13(d)(1) | Fine: $350 and suspension until compliance | Appearance NOT REQUIRED |
(2) A Taxicab Fleet or Minifleet as well as an Independent Owner operating more than one shift daily must maintain double shift insurance coverage.
35 RCNY § 58-13(d)(2) | Fine: $50 - $350 and/or suspension up to 30 days | Appearance REQUIRED |
(e) Report of Collisions.
(1) Report to Insurance Carrier. Any Collision involving one (or more) of Owner's Taxicabs that is required to be reported to the insurance carrier must be immediately reported to the carrier by the Owner, in writing.
35 RCNY § 58-13(e)(1) | Fine: $500 - $1,000 | Appearance REQUIRED |
(2) Report to Commission.
(i) An Owner must immediately report to the Commission in writing all Collisions that are required to be reported to the Department of Motor Vehicles (as required by § 605 of the Vehicle and Traffic Law) that involve any of Owner's Taxicabs.
(ii) An Owner must also provide to the Commission a copy of any legally required report filed with the NYS Department of Motor Vehicles, within 10 days of the date the report is due to be filed with the Department of Motor Vehicles.
35 RCNY § 58-13(e)(2) | Fine: $150 and $25 for each day of violation thereafter and suspension until compliance | Appearance REQUIRED |
(f) Surrender Rate Card and Medallion upon Termination of Insurance. An Owner must either:
(1) Surrender the Taxicab's Rate Card and Medallion to the Commission on or before the termination date of the vehicle's insurance, or
(2) Submit proof of new insurance effective on the date of termination of the old policy.
35 RCNY § 58-13(f) | Fine: $50 | Appearance NOT REQUIRED |
(Amended City Record 9/22/2016, eff. 10/22/2016; amended City Record 2/2/2023, eff. 3/4/2023; amended City Record 5/10/2023, eff. 6/9/2023)