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Legislation Proposed in Congress to Increase Trucking Insurance Minimums

Posted by Genie Wood on Wed, Aug 21, 2013 @ 11:28 AM

A bill authored by Rep. Matt Cartwright, D-Pa., would dramatically increase the minimum amount of injury and property damage insurance that trucking companies are required to carry. Under current law, trucking companies are required to carry a minimum of $750,000 in insurance in the event of an accident. Cartwright’s bill would increase this amount almost five-fold, to a total of $4.4 million.

Industry groups such as the American Trucking Associations argue that such moves could be harmful to the overall industry, and could harm small trucking companies in particular, without measurably improving the safety of other motorists. At present, the bill is not expected to pass the Republican-controlled House of Representatives.

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Tags: TBS Factoring Service, Trucking Laws, Trucking Insurance, American Trucking Associations