Insurance companies hesitant to insure motorcycle taxis

Insurers are not providing new products for motorcycle taxi owners. This is because of the increasing number of accidents.  Last month, the government required that all motorcycle taxis have to be insured, the riders must wear helmets, drivers must have a valid license and standard fare rates are a necessity. Despite the new reforms, insurance companies have excluded motorcycle coverage.  Insurers say it is because there has been a high loss ratio regarding theft and accidents.  The losses are significantly higher than it is for private vehicles. According to the…

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