Taiga Suspension Renews for All Policies Expiring in August or Later Unexpired Policies Continue in Effect

The issue of taxi insurance premiums has plagued the taxi industry. Since the beginning of this year, Taiga Insurance has refused to accept a new taxi insurance policy.

Deloitte, an accounting firm, was appointed by the Insurance Authority as Taiga Insurance Manager, taking over all the affairs and assets of Taiga.

Deloitte said today (4th) that based on an assessment of Taiga's operations and financial conditions, starting today, Taiga will suspend the renewal of all policies that expire in August 2022 or later, including taxis and non-taxi insurance. Taxi policy.

Deloitte continued that policies that have not yet expired will continue to be in force until the policy is terminated or expires in accordance with the relevant terms.

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Taiga earlier announced that it has not been able to arrange renewals for its taxi policies expiring between February and August 2022.

Deloitte said in a press release today that based on the manager's assessment of Taiga's operations and financial conditions, Taiga will suspend the renewal of all policies (including taxi and non-taxi policies) that expire in August 2022 or later. Save.

Sufficient time will be allowed to give written notice to insurance agents and policyholders

Deloitte continued that Taiga will allow sufficient time to give written notice to insurance agents and policyholders before the expiry of these policies so that affected policyholders can transfer their insurance to other insurance companies for underwriting.

In addition, the policy that has not yet expired will continue to be effective until the policy is terminated or expired in accordance with the relevant terms; Taiga will also continue to process claims for all valid policies, and policyholders can submit claims to Taiga through existing channels.

As for the policy expiring this month, Deloitte pointed out that if the policy owner or insurance agent has received an invitation to renew the policy issued by Taiga and intends to accept it, they can renew the completed policy on or before the expiry date of the original policy. The insurance notice, together with other required documents, and sufficient premium should be handed over to Taiga for processing, and Taiga will continue to arrange for renewal of the insurance.

The Insurance Authority will assist the affected taxis and minibuses to transfer insurance

In addition, considering the importance of maintaining taxi and public light bus services, the IA will assist the affected taxi and public light bus insurance policyholders to transfer their insurance to other insurance companies for underwriting.

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