FMCSA proposes increased insurance limits for trucking companies

The current $750,000 level of insurance is inadequate to cover the cost of many crashes.

By Rosalie L. Donlon | Updated on December 09, 2014

Several high-profile crashes involving trucks and large buses have been in the news recently with severe injuries and horrific damage. Since 2012, the Federal Motor Carrier Safety Administration (FMCSA) has been tasked with studying the situation and recommending changes to the financial responsibility requirements for each category of carrier. In an April 2014 report to Congress, FMCSA concluded that the current insurance minimums are inadequate to cover the actual costs of some crashes.

[Related article: DOT Report Calls for Higher Minimum Motor Carrier Limits; Market Impact Examined]

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