Issue Background

Rush to Raise Insurance Requirement

Despite a Federal Motor Carrier Safety Administration study showing that 99.9% of truck-involved accidents that result in property and personal injury damages do not exceed current minimum liability coverage requirements, attempts to increase the current liability requirements continue. 

TAKE ACTION - Monday, Nov. 2, 2015

Dear OOIDA Member,

As you may be aware, the U.S. House of Representatives is in the process of moving forward with their version of a long-term highway bill. This bill, the Surface Transportation Reauthorization and Reform Act (STRR) includes multiple provisions aimed at reining in FMCSA’s misguided rulemakings and regulatory processes.

Specifically, Sections 5501 and 5503 of the STRR Act will prevent FMCSA from moving forward on any rulemaking that would increase the liability insurance requirements on your trucking business, potentially skyrocketing your insurance premiums. Unfortunately, special interest groups, like the trial attorneys, are trying to strip this language. Clearly, the motivations of the trial attorneys are not rooted in safety but rather raising fees and seeking higher payouts.

Under sections 5501 and 5503, the DOT would be required to slow down current rulemakings and first evaluate what effect raising the insurance premiums would have on small businesses and owner-operators. In short, DOT would be required to explain why they seem to be moving so hastily towards a rulemaking that data and statistics show there is no connection to higher liability insurance requirements and highway safety.

We have worked hard with many allies on Capitol Hill to stop the agency from increasing insurance costs, and the language in those sections will go a long way towards preventing the agency from moving quickly with any rulemaking.

These important parts of the bill will protect your ability to keep insurance rates from increasing. Act now and let your lawmaker know that Sections 5501 and 5503 of the STRR Act have your full support and they should protect them from any efforts to remove them from the highway bill. You can find your lawmaker’s phone number by clicking here. Be sure to save it on speed dial. With a highway bill in play, there will likely be more reasons to call them in the very near future.

OOIDA Call to Action Team

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