Motorcoach

FMCSA: Current financial responsibility minimums are inadequate

Posted on April 21, 2014

The Federal Motor Carrier Safety Administration (FMCSA) reported to Congress that current financial responsibility minimums for the commercial motor vehicle industry are inadequate to meet the costs of some crashes.

The agency’s report to Congress was required in the most recent transportation bill and includes findings from a recent study that weighed the benefits of increasing insurance minimums, including improved compensation for crash victims and reductions in commercial vehicle crashes, against costs imposed on commercial motor vehicle operators and the insurance industry.

The analysis shows 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.

The FMCSA has formed a rulemaking team to further evaluate the appropriate level of financial responsibility for the motor carrier industry. MAP-21 requires FMCSA to issue a report every four years on financial responsibility requirements. To view the report, click here.

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

More News

MCI delivers first Commuter Coach to Broward County

Designed for higher speeds, the Buy-America-compliant, Altoona-tested MCI Commuter Coach uses a high-floor design that raises passengers and the driver above traffic, along with a long-travel suspension for a smooth ride.

79th Trailways conference slated for Calif.

The Trailways Annual Stockholders Meeting and Conference is a private gathering comprised of only Trailways Transportation owners and representatives. Located throughout North American and parts of Europe, these privately owned or operated bus and coach companies are affiliated with the well-known respected Trailways brand.

MCI introduces Web-based learning, ramps up 2015 training schedule

The Learning Management System works with smart phones and tablets as well as PCs and Macs, allowing technicians to access the modules at their work stations

CH Bus delivers Temsa TS-45 to Texas

Arrow Trailway’s TS 45 coach has seating for 56 passengers and includes quality features such as 110-volt plugs with USB ports, Alcoa Durabright wheels, REI monitors, and side and driver shades.

ABC delivers Van Hool CX45s to Mich., Wis.

METRO's 2015 Innovative Operator BLue Lakes Charter and Tours takes delivery of four, while incoming ABA Chairman John Meier of Badger Coach and Badger Tour & Travel took delivery of his new vehicle at ABA's Marketplace in January.

See More News

Post a Comment

Post Comment

Comments (0)

Please sign in or register to .    Close