In 1980, Congress required motor carriers to maintain at least $750,000 in liability insurance, in order to operate on public highways. It wasn’t based on whether motor carriers could afford the coverage.
Congress stated that trucking firms should either have sufficient worth, or if not, to acquire insurance sufficient to pay the property losses and medical expenses of people injured in ‘at fault’ truck crashes. Unchanged in almost 40 years, legislation was introduced recently to adjust the level to $4.9 million, not based arbitrarily, but on simple medical cost inflation.
For example, in 1980, the average cost of hospital care was less than $300 per day. Today, the cost is more than $2,300 per day. In the last reportable year, more than 4,600 people were killed and 140,000 people were injured in truck crashes.
If at fault, motor carriers have a moral and ethical responsibility to financially cover the losses and expenses experienced by truck accident victims, many of whom are truck drivers. Society shouldn’t pick up the tab. Motor carriers can meet their obligation by supporting this legislation.
You can review the legislation here