Hong Kong cabbies decry sky-high premiums for their taxis

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Chen lamented that such a high premium was “unreasonable”.

Taxi insurance costs in Hong Kong rose by more than 20% in a span of a year – from an average of HK$28,050 in 2019 to HK$33,902 in 2020.

In response, the taxi industry is lobbying for permission from the government to either implement an HK$6 insurance surcharge or to allow them to raise fares by over 20%.

Meanwhile, insurers say the skyrocketing premiums were caused by high accident rates among taxis, as well as increasing damages sought by claimants involved in accidents.

According to the report, insurers servicing Hong Kong

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A solution for the unrelenting price hikes in commercial insurance

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Marsh attributed the slightly lower price increases to improved rating stability in property insurance, as well as financial and professional lines. Global property insurance pricing was up an average of 15%, down from the 20% increase in Q4 2020. Meanwhile, casualty pricing was up 6% on average, from 7% in Q4, and pricing in financial and professional lines had the highest rate of increase among major insurance product categories at 40%, compared to 45% in Q4.

Read next: Marsh examines increase in third-party business for captives

While the average price increases may have dipped, the increases themselves are still significant

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Liberty Specialty Markets hires new underwriting manager

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Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Jennifer Quinn to underwriting manager strategic assets, London, effective immediately.

Quinn has oversight of the London Strategic Assets book of business covering cyber, intellectual property, and property GAP coverage. She joined LSM in 2019 as a senior underwriter in the strategic assets team. Before joining LSM, she spent 13 years in the London market – building her experience underwriting cyber, tech E&O, and commercial PI.

In her new role, Quinn will be responsible for growing the cyber and strategic assets offering and building LSM’s market position. She will

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Payments Cards & Mobile Jobs of the Week June 21

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Are you a professional looking for an exciting new opportunity? Well then you have absolutely come to the right place.

Three super exciting roles available in London

Today, we had a look through our job board for exciting roles in London to share with you all, in the hopes that you may just land your dream job – writes Rebecca O’Keeffe, Content Creator, Jobbio.

Check out these brilliant roles now…

Lead Counsel Payments, EMEA, Airbnb

Airbnb is a mission-driven company dedicated to helping create a world where anyone can belong anywhere. It takes a unified team committed to their

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