Q&A
Determination of $200,000 PIP insurance requirement
1:20:14
ยท
31 sec
Commissioner Do explains how the $200,000 PIP insurance requirement for TLC vehicles was determined. The amount was set in the 1990s based on the operating patterns of TLC vehicles.
- TLC vehicles operate more than four times the amount of an average private passenger vehicle.
- The $200,000 requirement was deemed necessary for full-time drivers to ensure adequate coverage.
- The decision was made by the TLC at that time to account for the increased road time of these vehicles.
Selvena N. Brooks-Powers
1:20:14
How and why was the $200,000 requirement determined to be an adequate level?
David Do
1:20:20
So $200,000, again, was determined at that time.
1:20:25
But, like I said, these vehicles operate more than, four times, the average, amount, of a private passenger vehicle.
1:20:36
And so, the TLC at that time decided that $200,000 was the amount necessary as these were full time, drivers.