In the event of a truck accident, interstate motor carriers need to have enough insurance to cover the harm that they may have caused. Therefore all such carriers are required by law to be insured to a minimum level. The current minimums, set in 1985, are $750,000 for general freight, $5 million for the most dangerous hazmats and $1 million for other hazmats. Following a recent report to the Congress demonstrating that minimum insurance requirements for interstate truckers were too low, the FMCSA started to work on a new rule.
However yesterday, the U.S. House approved an amendment that would stop the Federal Motor Carrier Safety Administration from changing insurance minimums. The amendment is a long way from becoming law but it highlights opposition to the agency even considering a change in the minimums.
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