Trucking news and briefs for Thursday, May 6, 2021:
OOIDA, other groups petition House Democrats to reject insurance increases
More than 60 organizations representing the trucking, agriculture, construction, manufacturing, materials and towing industries are petitioning members of the U.S. House of Representatives to reject an increase of motor carriers’ minimum liability insurance requirements.
In letters sent to the Blue Dog Coalition of fiscally-responsible Democrats and the Problem Solvers Caucus – both of which seek commonsense solutions to various issues – the coalition explains that an insurance increase “is wholly unnecessary” and “would do nothing to improve highway safety and would have a severe negative impact” on their members due to significantly higher operational costs.
The letters state that federal research indicates the current $750,000 minimum requirement covers damages in 99.4% of crashes involving commercial vehicles.
The letters are in response to efforts to increase the insurance minimum to as much as $4 million.
“Rejecting calls for increases in insurance coverage will help protect American jobs and businesses, including countless small businesses, from an unnecessary and excessive policy designed to further line the pockets of trial lawyers at the expense of truckers, farmers, construction firms, manufacturers and more,” the letter concludes. Among groups that signed the letters are the Owner-Operator Independent Drivers Association, numerous state trucking associations and more.
