FMCSA: Current insurance minimums for carriers ‘inadequate,’ new rule coming

It's an ambulance chasing, sue truckers, lawyer that is writing this crap law. How about making 4 wheelers carry $1 million policies? After all, they cause 75% of the accidents with trucks.

 

if inflation costs are correct it would be 4.4 million today. Put that in the trucking business and all the small Tk companies will shut down, Businesses will close, Big government will say " we are in another recession and we don't know why" Insurance companies will profit, that's it. FMCSA head Annie Ferro Stated earlier in March that shes here to improve safety, NOT make a positive impact on the industry. and she cant even do that. I want to see passenger cars and pickups get a minimum of 750k in liability because that State minimum is never enough

 

So rates will go from .95 a mile to 1.19!

 

They should raise it gradually like by 2025 you need x amount of insurance a sharp and sudden increase from 550 k to 4 mill is crazy

 

By the time 2025 rolls around, 4 million won't be enough. Liability insurance is still one of the cheapest costs in trucking. For one reason, so many carrier-at-fault incidents, big and small, are "settled" out of court and these pay-outs usually don't involve the insurance under-writer. So liability insurance rarely suffers any pay-outs and as such premiums are relatively low for the face value of the agreement.

 

This subject was talked about on the Road Dog show,,Mark Redding had some guy on there.... I just can't see this happening, not 4+ million anyway. When are enough people going to stand up to this rampit run of regulation seeking progressive's? This would really put the iceing on the cake for me and a lot of other drivers. Not to mention carriers, small and medium ones.

I guess I am just sick and tired of hearing a new "proposal" to a new regulation, what seems, every danggum month!