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

FTA transfers WMATA safety, announces all states now meet oversight standards

In addition, approximately $48.5 million in FTA grant funding withheld due to the District, Maryland, and Virginia is now available

Public transit infrastructure needs at least $232 billion, APTA says

U.S. projects range from those in need of major repair or maintenance to new priorities including terminal constructions and electric bus fleets.

FTA announces $85M funding for tech. advanced transit buses

The Low-No Program helps project sponsors purchase or lease low- or no-emission vehicles.

IndyGo chief testifies on importance of federal funding

He testified that federal public transportation policy must focus on the continued solvency of the Highway Trust Fund.

Proposed budget calls for cuts to CIG program, Amtrak

The budget proposal also includes a 31% cut for the Environmental Protection Agency.

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