PSVs eye own insurance firm
THE DAYS OF public service vehicles (PSVs) paying expensive premiums on vehicle insurance may be over.
Chairman of the Alliance of Owners of Public Transport (AOPT) Roy Raphael told the SUNDAY SUN that they may soon have their own insurance company.
“Right now we are in discussion with an insurance company and we are hoping to have our own insurance company [like]the Transport Board, which has their own insurance company, and the rates would be cheaper,” he said.
For several years owners of PSVs have been complaining about the high cost of road insurance. However insurance companies have countered that with the high number of accidents involving PSVs. (MB)