Taxi drivers on strike in the Central district in Hong Kong on 17 March 2017. Photo: EPA
Taxi drivers on strike in the Central district in Hong Kong on 17 March 2017. Photo: EPA

Hong Kong’s Insurance Authority seizes control of Target after motor insurer left thousands of city’s taxis in the lurch

  • The unprecedented enforcement action was aimed at “maintaining market stability and protecting policy holders’ interest,” the Insurance Authority said
  • Target Insurance provides motor insurance coverage for minibuses and 60 per cent of the 18,163 taxis that ply Hong Kong’s streets

Taxi drivers on strike in the Central district in Hong Kong on 17 March 2017. Photo: EPA
Taxi drivers on strike in the Central district in Hong Kong on 17 March 2017. Photo: EPA
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