TRANSPORTATION LAW ALERT
SAFE HAUL Proposes Raise in Insurance Minimum for Motor Carriers
On Friday, July 19, 2013, Representative Matt Cartwright (D-Penn)  introduced House Bill 2730 which would raise the required insurance minimum for motor carriers. The bill, titled Safe and Fair Environment on Highways Achieved through Underwriting Levels Act (SAFE HAUL), proposes to raise the minimum insurance for motor carriers from $750,000 to $4.422 million. It further ties the minimum insurance requirement to the cost of medical care inflation.
According to Rep. Cartwright's office, it takes more than $4.4 million to provide for the equivalent of the $750,000 limit set in 1980. A recent study conducted by the Trucking Alliance was also cited. The study found that 42% of the settlements paid by trucking companies between 2005 and 2001 for motor vehicle accidents exceeded the minimum insurance requirement.
The SAFE HAUL legislation has been referred to the House Committee on Transportation and Infrastructure where it is awaiting further action.
For more information, read Rep. Cartwright's entire press release.
If you have any questions regarding this class action, please contact one of our Transportation Law attorneys at 816.931.2700. |
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