Admiral Business launches taxi insurance product

Specialist SME, sole trader and contractor insurer Admiral Business has launched a new taxi insurance product, available to both public and private hire drivers.

The move is the first foray into taxi cover for Admiral Business, which called the sector a “growing and underserved market” where drivers require “dedicated commercial cover”.

At launch the product will be available only as a single vehicle policy, though Admiral Business said it had plans to introduce taxi fleet insurance later this year.

The firm said that the product will be distributed through specialist brokers which “understand the needs of taxi drivers”, enabling it to “offer strong distribution, tailored support and great customer outcomes”.

The proposition will be supported by a dedicated repair network with the stated aim of providing an “efficient claims experience to help keep drivers on the road”.

Customer needs

Edward Hill, chief commercial officer at Admiral Business, said: “This is exactly the kind of opportunity we look for, a real customer need, a clear space to differentiate and the ability to build with pace.”

He continued: “Taxi drivers face unique pressures every day and by working with specialist brokers that know the market really well, we’re building an insurance experience that genuinely supports them.

“We’re excited to enter this market and continue growing Admiral Business in areas where we can make a meaningful difference.”