Q: Taxi medallion broker refuses to cancel insurance on my car and I can't add insurance onto my car from second broker.
I was leasing a yellow taxi medallion from a broker. The car title is under my name and financed by Toyota. The insurance is under the name of the medallion owner. The medallion got repossessed by the bank. My car has been sitting for over 3 weeks and the broker has not put the medallion back on the car so I decided to take my car to another broker and lease another medallion. I am unable to add insurance to my car because my first broker will not cancel the insurance on my car and now my car can not be insured by my new broker until this insurance is canceled. I have requested my first broker to cancel the insurance and he is not cooperating. He tells me he will cancel when he is ready and not when I am ready. We tried contacting the insurance company and they said the policy has to be canceled by the policy holder. What can I do? What are my rights? I had a 3 year contract but without a medallion I need to lease another one to make my car payments. It's been over 2 1/2 years.
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