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

Support for raising Federal gas tax continues to rise, finds Mineta report

Seventy-five percent of respondents supported a 10¢ increase in the gas tax if the revenue raised is dedicated to maintenance projects.

FMCSA seeks input on 18-to-20-year-old interstate commercial drivers

Drivers ages 18-20 may currently only operate CMVs in intrastate commerce.

Proposed FY20 Appropriations bill includes $16.2B for transit, rail

Does not allow the FRA to take back the $2.5 billion in funding that has been provided to the California High-Speed Rail Project.

FTA provides $9.6 million to bolster access to health care

Grants focus on transportation and tech solutions to reach medical appointments, access healthy food, and improve paratransit.

FRA cancels $928M California high-speed rail grant

The FRA added it continues to consider all options regarding the return of $2.5 billion in ARRA funds awarded to CHSRA.

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