Commercial insurance underwriting agency APC is likely to introduce a public hire taxi product in early November 2012, marking its entry into the specialist motor underwriting market.
Available through the firm’s QuoteMac trading platform, the new product is intended to provide selected brokers with a taxi clients’ market while controlling risk selection and claims management.
Offering comprehensive cover only, the product will focus on public liability up to £10m, vehicles with up to nine seats including the driver’s, vehicles no older than eight years, experienced taxi drivers aged between 28 to 70 as well as drivers with full UK driving license in five years or above.
APC director of underwriting Ian Russell was quoted by InsuranceTimes.co.uk as saying, "Our new online Public Hire product is also extremely simple with a very short proposal form."
"I truly believe brokers will enjoy the application of the proven APC format to motor business including a quick turnaround of referrals," Russell added.