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Maya Assurance Company is a New York City-based insurance carrier licensed to underwrite property-casualty insurance in the State of New York. Maya currently underwrites auto liability and no-fault coverage for the livery vehicle industry in New York City, with a specific focus on South Asian drivers.
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Maya was founded in 2005 and has grown by over 40% per year since 2005. Having successfully established Maya in the very competitive New York livery business, the management team plans to transform the Company into a diversified commercial lines insurance carrier primarily focused on small and medium-sized business and commercial establishments, especially those owned and operated by South Asian entrepreneurs in the northeastern U.S., predominantly New York, New Jersey and beyond.
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The Company also plans to increase its market share of the New York City livery business. The New York State Insurance Department has approved the Company’s plan to provide fire, theft, and collision coverage for the livery vehicles. In addition, the Company has been approved for a Commercial Automobile program in New York State. This is a natural extension of the business Maya currently writes in that its infrastructure is already in place to underwrite business, handle claims, invoice insureds and brokers, and service its clients in the most technologically expeditious fashion.
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The company will write Commercial Automobile for small to medium size business owners in the artisan classes, such as plumbers, contractors, electricians, wholesale distributors, manufacturers, etc. This will soon be followed by supporting lines of business (e.g. GL,CPPs , BOPs) for exposures associated with the ownership, maintenance, and operations of these small to medium size business entities, throughout the New York Metropolitan area. As the company grows, additional lines of business will be added to our product portfolio.
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The Company’s CEO, Ram R.P. Singh, is well connected in the South Asian community in the New York metro region and intends to use his network of connections to develop additional business for the Company. Currently, there is no other carrier primarily focused on servicing the financial needs of this growing South Asian business community, and the Company plans to fill this void by offering its services in the areas of insurance, finance, and risk management.
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