Fact Sheet on the Daines’ Amendment to Halt Minimum Liability Insurance for Truckers

 This is Daines’ argument on which he based his amendment:

 “The small businesses that make up the majority of the truck and bus industries not only provide jobs for thousands of Americans, they play an important role in moving goods and people and supporting our economy,” Daines said. “It flies in the face of common sense to put people’s livelihoods at risk without any evidence that it would improve the safety of our roads or better meet the needs of catastrophic accident victims. I’m glad the House joined me in supporting this measure to protect small businesses and the jobs they provide.”

  http://www.fmcsa.dot.gov/sites/fmcsa.dot.gov/files/docs/Financial-Responsibility-Requirements-Report-Enclosure-FINAL-April%202014.pdf

 “EXECUTIVE SUMMARY

 On July 6, 2012, President Obama signed into law the Moving Ahead for Progress in the 21st Century Act (MAP-21; P.L. 112-141). Section 32104 of MAP-21directed the Secretary of the U.S. Department of Transportation (DOT) to issue a report to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives on the appropriateness of the current minimum financial responsibility requirements for motor carriers of property and passengers, and the current bond and insurance requirements for freight forwarders and brokers.

  Section 32104 also directed the Secretary to issue a report on the appropriateness of these requirements every 4 years starting April 1, 2013. The Secretary delegated the responsibility for this report to the Federal Motor Carrier Safety Administration (FMCSA).

  The legislative history of minimum insurance requirements for commercial motor vehicles (CMV)indicates that Congress recognized that crash costs would change over time and that DOT would periodically examine the levels and make adjustments as necessary. A variety of recent studies indicate that inflation has greatly increased medical claims costs and related expenses. In conclusion, FMCSA has determined that the current financial responsibility minimums are due for re-evaluation. The Agency has formed a rulemaking team to further evaluate the appropriate level of financial responsibility for the motor carrier industry and has placed this rulemaking among the Agency’s high priority rules. The FMCSA will continue to meet with the stakeholders, including impacted industries, safety advocacy groups, and private citizens, as it moves forward with developing a proposed rule.”

Media Coverage of the Daines’ Amendment:

 http://www.insurancejournal.com/news/national/2014/06/13/331775.htm

 “The 214-212 vote was largely along party lines with 210 Republicans and only four Democrats voting in favor.

 The FMCSA concluded in a recent report to Congress that current minimum financial responsibility limits for the commercial motor vehicle industry — including the $750,000 limit for general freight carriers— are inadequate to meet the costs of some crashes, mainly because of rising medical costs.

The regulatory agency stopped short of recommending specific new limits but could have a proposal by the end of June and new limits could be published in November.

The minimum limits have not been raised in more than 30 years.”

 http://fleetowner.com/regulations/update-house-votes-block-higher-minimum-liability-insurance-level

http://fleetowner.com/regulations/house-passes-dot-funding-bill

http://annaleahmary.com/2014/06/the-daines-amendment-passed-contact-your-u-s-representative/

 

One thought on “Fact Sheet on the Daines’ Amendment to Halt Minimum Liability Insurance for Truckers

Leave a Reply

Your email address will not be published. Required fields are marked *