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Written by: Huang Weilun
2020-06-10 13:53
Date of last update: 2020-06-10 13:53Some members of the Legislative Council have reported that taxi comprehensive insurance premiums and third-party risk insurance premiums have increased by 35% and 20% respectively from last year; and taxis with vehicle ages of 20 years or more have been refused insurance. The Secretary for Transportation and Housing Chen Fan stated that under the law, the CIRC cannot interfere with business decisions, emphasizing that the policy is a private contract between the insured and the insurance company, taking into account the business principles, risk assessment, operating environment, claims record and other performances.
Chen Fan also said that in the past 15 years, the loss of taxi insurance business has expanded in recent years. Last year, it recorded a loss of 119 million yuan, which affected the willingness of insurance companies to participate in business.
In addition, Members are also concerned about the age of taxis. He Junyao criticized that there are more than 5,000 taxis with 13 years of age, describing "the scrap iron can walk". Chen Fan said that car age and machine parts and performance do not need to be directly proportional, and said: "A lot of Members present are quite mature, but the department is still in good health and walking vigorously."
Yi Zhiming is concerned about the issue of taxi premiums. (Profile picture)
Mr. Yi Zhiming, a member of the shipping and transportation industry, raised an oral question in the Legislative Council today (10th), concerned about taxi insurance, and mentioned that taxi comprehensive insurance premiums and third-party risk insurance premiums increased by 35% and 20% respectively from last year. He also said that some insurance companies have recently stopped underwriting taxis, and only one company has underwritten 20-year-old taxis, which has reduced market competition and questioned whether it is illegal for insurance companies to refuse to cover 20-year-old taxis.
Chen Fan responded that the insurance policy is a private contract between the insurance company and the insured. According to the business principles, risk assessment, operating environment, claims record and other performances, according to the "Insurance Company Regulations", the Insurance Regulatory Bureau cannot intervene in business decisions. He also pointed out that there are currently eight insurance companies contracting taxi insurance. However, Yi Zhiming pointed out that after an annual inspection, the taxi is recognized by the government. Although there is still a company underwriting a 20-year-old taxi, the premium is quite expensive, and the owner may not be able to change the car. He asked: "(driver) wants to return to the house Is the company waiting to close the job?"
Chen Fan stated that the CIRC has no right to intervene in the issue of taxi premiums. (Profile picture)
Chen Fan said that since 2005, the taxi insurance business has only been profitable for five years, and the losses have increased in recent years. From 2017 to the first quarter of 2020, losses have been recorded. Among them, the loss in 2019 reached 119 million yuan. Affect the insurance company's desire to participate in business. He also said that there was an upward trend in taxi traffic accidents between 2017 and 2019, increasing year by year.
On average, there are about 50 taxi fraud accidents related to insurance accidents each year
Chen Jianbo also revealed that the amount of the loss is not small, and after the taxi accident, there have been exaggerated compensation and litigation. Chen Fan pointed out that between 2015 and 2019, there were an average of about 50 related insurance fraud cases each year, with an annual amount of 67 million yuan.
He Junyao criticized that taxis are too old, "Scrap iron, you can walk." (Profile picture)
The question also mentioned the age of taxis. Of the approximately 17,000 taxis that have undergone annual inspections, about 1,000 were registered in 2019. He Junyao mentioned that 28 taxis were 20 years old; about 5,000 were over 13 years old, accounting for about 30% of the total. They criticized: "Scrap iron, you can walk", "Climbing the sedan is good, and slowly do not kill people." ".
Chen Fan said that vehicle age and machine parts and performance do not need to be directly proportional, and that vehicle age and safety should not be directly related. He said: "A lot of Members present are quite mature, but the department is still in good health and walking vigorously." However, he also admits that the older the car, the more detailed inspection of different performances is required; but he emphasizes that as long as he passes the annual inspection, it is safe and reliable.
Chen Fan also said that the government will launch a one billion yuan smart transportation fund in 2020/21 to fund new vehicle technologies, including automatic emergency braking systems and frontal collision avoidance warnings. Welcome car manufacturers to install vehicles.
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Taxi Yi Zhiming Chen Fan Insurance
