Raising Trucking Insurance: Necessity or Additional Headache?

A proposal has been made to raise the minimum of trucking insurance from $750,000 to $1 million. For members of the trucking industry, a comprehensive insurance is required to cover the possible liabilities truckers may face while out on the road. Whether it's protection from damage, loss or injury, having insurance can help both drivers and owners from facing financial losses, as well as protect the general public from reckless truck drivers. While the Trucking Alliance believes that the minimum must be raised to help with settlements for uninsured liabilities, both the OOIDA and ATA believe that it's an unnecessary expense and could make truckers bigger targets for personal injury law firms. With the Federal Motor Carrier Safety Administration (FMSCA) still analyzing the proposal as well as the studies made by the 3 groups, all truckers are advised to maintain their current policies and drive safely.

http://c2cservices.com/blog/industry-news/fmcsa-analyzes-possibility-of-raising-trucking-insurance-minimum-ooid-and-ata-think-otherwise/