Skylight. Photo for illustration.Photo: iStock / Byoung Joo

Recently, taxi insurance has become available to a large group of entrepreneurs with foreign insurers as the risk bearer. JW Verzekeringen has access to foreign insurers that want to insure taxis in the Netherlands through one of the largest insurance proxies in the world. According to JW Verzekeringen, the common goal of this insurance is to keep premiums low for the long term.

Taxi drivers from 13 years old and with at least four claim-free years are eligible for this new insurance. According to a due diligence, carried out by JW Verzekeringen, it appears that 27 percent of the claims are made by taxi companies with less than four claim-free years and who are younger than 13 year.

Strict entry requirements “We want to keep the premiums as low as possible for a longer period,” says Wout Wolven of JW Verzekeringen. “We do this by setting strict admission requirements. We take a good look at someone’s claims history, history and listen carefully to everyone’s story. We have therefore deliberately opted for four claim-free years. If the damage picture is negative, you are not eligible for this insurance.”

Since 500, insurance for taxi companies is no longer self-evident. “Since that year, major insurers have stopped insuring taxi companies,” explains Wolven further. “At a certain point, only the Vereende, Amlin and Avero remained for the taxi industry. At that time, Uber also entered the big cities with younger drivers. The resulting damage was a bit of a shock.”

Flying start The new taxi insurance is off to a flying start. Within two months, some 500 taxi companies have switched. “We actively informed our customers about this and put it on the market online after the launch”, is how Wolven explains the rapid growth. “We haven’t heard from our customers yet, so that means it’s good. If things stay calm, people are just happy with the switch they’ve made. That’s just how it works in the insurance world.”

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