I'm in favour of light-touch regulation on taxis (at least in the presence of an outfit that can provide driver reviews), but basic safety/insurance checks aren

I'm in favour of light-touch regulation on taxis (at least in the presence of an outfit that can provide driver reviews), but basic safety/insurance checks aren't something the market is likely to be all that efficient at enforcing. The issues people are going to review on will be driver experience, internal cleanliness, etc. Poor vehicle safety only really becomes a passenger issue at the point it's too late. Lack of insurance is even worse - because it also affects the person your taxi crashes into, who doesn't have any say in the matter at all, market-wise.