As part of the Moving Forward Act, a highway bill was added that would increase the minimum insurance requirements for carriers from $750,000 to $2 million. Now, Rep. Mike Bost has proposed an amendment to the Act that would get rid of the increased insurance requirements. If there was a massive increase in minimum insurance, a lot of the smaller carriers or single truck operators would lose their businesses. According to OOIDA, only 0.06% of crashes see damages that exceed $750,000. Click the link below to learn more about this.
Insurance Hike Could be Removed with new Amendment
