FMCSA Minimum Insurance Requirement Remains Unchanged For the Time Being

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In 1985, the Federal Motor Carrier Safety Administration set a $750,000 minimum insurance requirement for motor vehicle carriers. Earlier in 2014, there was discussion that a new rule would be promulgated raising the limit above $1 million to reflect inflationary rates. The new limit was expected to be released this Fall, but has been delayed due to a change in leadership of the FMCSA. The FMCSA has indicated that all major rule changes are being delayed pending the turnover in the administration and subsequent review of various proposed rule changes, including the minimum insurance requirement. Stay tuned for the updated rule change, which will likely take effect sometime in 2015.

By David Hoffman

Hoffman

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