What is the crucial goal that American Transit Insurance Company is trying to achieve regarding its insolvency?
NYC's Taxi Mess Was Driven by Decades of Inaction
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American Transit Insurance Company insures a significant portion of NYC's commercial vehicles but has been insolvent for nearly its entire history. Despite political neglect, the company's financial issues have come to light, with lawmakers now seeking solutions to prevent disruption in the city's transit system. The Department of Financial Services has ordered a sale, but no buyer has been found. American Transit claims to have provided affordable insurance and blames fraud for its troubles.
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How has American Transit Insurance Company described its role in the insurance market over the past 50 years?
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