Taxi shortage | Tyga fails to renew its taxi policy that expires in February, Deloitte understands its finances

The Insurance Authority (IA) has, on January 7, 2022, in accordance with the powers conferred by the Insurance Ordinance, appointed Lai Kaen and Kam Chung Hang from Deloitte Touche Tohmatsu CPA firm as the joint and separate managers (managers) of Taiga Insurance , fully take over all the affairs and assets of Taiga.

The manager has previously acted on behalf of Taiga as the insurer to cancel the surrender notices of the taxi insurance policy issued on 3 and 4 January 2022.

In addition, Taiga is arranging surrender and orderly refund of remaining premiums for policyholders who have received a surrender notice from Taiga on December 30, 2021.

If such policyholders have not found an insurance company to take over their insurance, Taiga will arrange for policyholders who are affected and in need to extend their policies up to February 5, 2022.

The manager is still learning about Taiga's operations and financial situation.

In order to protect the interests of customers, Taiga failed to arrange renewal of the taxi insurance that expired in February 2022.