Government Issues

FMCSA seeking comments on revising financial responsibility levels

Posted on December 4, 2014

The Federal Motor Carrier Safety Administration (FMCSA) issued an Advance Notice of Proposed Rulemaking (ANPRM) seeking comment from the public, liability insurance providers, motor carriers, brokers, and freight forwarders on the safety and financial impacts of revising minimum levels of financial responsibility.

The Federal Government has long required motor carriers to maintain certain levels of financial responsibility, either through insurance, a bond or other financial security, as a means to protect the public in the event of a crash.

An April 2014 report to Congress found that while catastrophic motor carrier crashes are rare, the costs for resulting severe and critical injuries can exceed $1 million; current insurance limits do not adequately cover these costs, which are primarily due to increases in medical expenses and other crash-related costs.

To provide a basis for proposing changes to insurance rules and estimating those impacts in the future, the FMCSA is seeking additional information on 26 questions. Whenever possible, commenters should provide data in support of their responses.

FMCSA recognizes that an individual commenter may choose to respond to all of the issues or only a subset, based on his or her interest or area of expertise. To view a copy of the ANPRM and instructions for submitting comments, click here.

View comments or post a comment on this story. (0 Comments)

More News

Legislation calls for NJ Transit to issue refunds for rail delays

Monthly pass holders would get a prorated amount refunded while single-ticket holders would get their money back.

85% of transportation-related ballot measures successful

Overall in 2018, public transportation won 30 of 36 ballot measures in primary and general elections, a win percentage of 83%, according to APTA.

More than 90% of the world’s children breathe toxic air every day

In 2016, 600,000 children died from acute lower respiratory infections caused by polluted air.

SFMTA could withhold $9.7M for troubled Transbay Transit Center

Building was shuttered in September, after workers found fissures in two steel beams that support the bus deck and rooftop park.

New 'clean' vehicle, fuel policies can cut pollution by 35% by 2030

Transportation is now the biggest source of global warming pollution in the Northeast and Mid-Atlantic, according to study.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation