BULLETIN No.  05-IB-005 12/15 | PDF version* December 15, 2005    TO:        All Taxicab Companies, Insurance Producers, and Insurers Issuing Automobile Insurance Coverage for Taxicabs Licensed by the the District of Columbia FROM:   Thomas E. Hampton, Acting Commissioner RE:        New Insurance Coverage Requirements Taxicab Insurance Coverage Changes On July 23, 2004, the Commissioner of the Department of Insurance, Securities and Banking (DISB) issued a Final Rulemaking (“rule”) to require insurance companies to offer additional optional lines of insurance with specific limits and conditions, and to provide for deposit and payment options. Generally, the rule set forth the following requirements for automobile insurance for taxicabs licensed by the District of Columbia: 1. Policy durations shall be for a term of not less than six (6) months, except that the initial term for a new policyholder may be for a term less than six (6) months in duration. 2. The minimum limits of taxicab liability insurance required to be offered in the District shall be the following:      a) For bodily injury, twenty-five thousand dollars ($25,000) per person/fifty thousand dollars ($50,000) per accident; and      b) For property damage, ten thousand dollars ($10,000) per accident. 3. Establish installment premium payment options. If you have any questions regarding this bulletin, please contact Leslie Johnson at (202) 442-7756.