Earlier this year the FMCSA tried to raise the liability insurance above the $750,000 current minimum, but it was shut down by the House of Representatives back in June. The liability insurance minimum has not been changed since 1982, however the ATA states that only 1% of truck related crashes exceeds the $750,000 and would just increase, not only the primary rates, but premium rates as well. They worry that carriers might want to cushion the blow of higher insurance rates with higher freight rates.
The FMCSA are asking carriers 26 “financial responsibility” questions. Here are the topics-
2. Current Insurance Levels
3. Impacts of Increasing Insurance Coverage
For the exact questions go to OverDrive Online>>