Minimum Liability Insurance Fact Sheet
This issue deals with the minimum liability insurance which trucking companies are required to have. The current insurance minimum of $750,000 was established by Congress in 1980 and has not been raised in over 30 years. This negatively impacts not only the truck crash victims but, also, the trucking companies, and the public. More information about this issue can be found in the links below.
See posts on this website regarding minimum insurance: http://annaleahmary.com/tag/minimum-insurance/
January 31, 2017 Update: Over two years ago, on November 28, 2014, the FMCSA issued an Advanced Notice of Proposed Rulemaking on this issue—with no end in sight. It is my understanding, from communication with DOT today, that “the FMCSA has not been able to obtain insurance rate information from the insurance companies concerning premiums to cover trucks and buses. With regard to the status of the ANPRM, we have completed our review of the comments and unfortunately the commenters could not provide information to help us with the economic analysis concerning this issue.”
From FMCSA’s report on minimum insurance, released April 2014: http://www.fmcsa.dot.gov/
What came out of the AnnaLeah & Mary Stand Up For Truck Safety Petition and the meeting we had with DOT on May 5, 2014? Did it make a difference? Here is the first of the three requests which we made in the petition and what has come about:
- First Request: Raise minimum levels of insurance required for truck drivers–which has not been done for over 30 years.
- Result: In November 2014, the FMCSA issued an Advance Notice of Proposed Rule Making (ANPRM) announcing that they are considering a proposed rule to increase the minimum liability insurance coverage for motor carriers. https://www.federalregister.gov/articles/2014/11/28/2014-28076/financial-responsibility-for-motor-carriers-freight-forwarders-and-brokers http://annaleahmary.com/2014/12/good-news-fmcsa-announces-first-step-toward-increasing-minimum-liability-for-trucker-insurance/ https://www.facebook.com/464993830249803/photos/a.465869083495611.1073741828.464993830249803/741290079286842/
- The period for Public Comments ended on February 26, 2015. The 11,391 signatures from our petition were added to these Public Comments. This will be followed by a review of these comments and a decision about whether to actually proceed with a rulemaking process.
NOTE: No further progress. June 2, 2016
SAFE HAUL Act of 2013.
Here is a site to track this bills’s progress through the legislative process: http://beta.congress.gov/bill/113th-congress/house-bill/2730?q=H.R.+2730
From that site:
“Introduced in House (07/18/2013)
Safe And Fair Environment on Highways Achieved through Underwriting Levels Act of 2013 or SAFE HAUL Act of 2013 – Revises certain minimum financial responsibility requirements to increase from $750,000 to $4.422 million the minimum level of financial responsibility sufficient to satisfy established liability coverage for motor carriers or motor private carriers providing property transportation. Requires the Secretary of Transportation (DOT) to adjust such amount annually for inflation relating to medical care.”