Arkansas Trucking Association

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New Rule Could Increase Minimum Liability Insurance Levels

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The Dept. of Transportation (DOT) has issued a notice of content to consider an increase in the minimum insurance requirement for motor carriers. The Federal Motor Carrier Safety Administration (FMCSA) also is considering extending financial responsibility requirements to private motor carriers.

In an April 2014 report to Congress, FMCSA said it would develop a rule that would increase the minimum liability insurance level above the current $750,000 for property carriers and might impose a financial responsibility requirement on private motor carriers. The agency has determined that the current financial responsibility minimums are not adequate to fully cover the costs of some crashes in light of increased medical costs and DOT’s revised value of statistical life estimates.

However, in June, the House opposed DOT and FMCSA adopting an increase in minimum liability insurance levels.

Congress has adopted a continuing resolution funding the government through Dec. 11, which means the details of DOT funding will be settled during a post-election lame duck session as part of a long-term appropriations bill. That bill will resolve a couple of major issues of interest to trucking – which include minimum insurance liabilities.

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Arkansas Trucking Association
PO Box 3476 (72203)
1401 West Capitol Ave.
Suite 185
Little Rock, AR 72201

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  • PROTECT the collective interests of trucking companies in the political and regulatory arenas.
  • PROMOTE the dynamics of trucking so that people have a better understanding of the link between America's primary freight delivery system and the standard of living they enjoy.
  • SERVE our members to help them to grow their business and their profits
You are here: Home News In Brief New Rule Could Increase Minimum Liability Insurance Levels