§ 58-13 Compliance with Laws – Insurance Coverage.
RCNY § 58-13
(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 daysAppearance 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: $100Appearance 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: $100Appearance NOT REQUIRED (d) Coverage Requirements. No Taxicab can be operated unless it is covered by policies of insurance approved as to form by the Commission and issued by companies authorized to do business in this State by the Superintendent of Insurance.
(4)Excess policies may be used to satisfy the Commission’s minimum coverage requirements with a company authorized to do business in this State by the Superintendent of Insurance.
(5)Policy Information Required. Documentation submitted to the Commission for each vehicle covered by a policy must contain the vehicle identification number for each such vehicle, effective and end dates of the policy, coverage amounts, and Certificates of Liability.
(i)Declaration pages are required upon Commission request and must contain the schedule of covered vehicles and the policy number.
(ii)All documentation must be submitted electronically in a form approved by the Commission. 35 RCNY § 58-13(d)(3), (4) & (5)Fine: $350 and suspension until complianceAppearance REQUIRED (e) Report of Collisions.
