National Grain and Feed Association leaders are concerned about a proposed Department of Transportation Rule that could lead to significantly higher insurance levels for truckers. NGFA is urging the Federal Motor Carrier Safety Administration to forego issuing the rule and to evaluate the impacts of additional premium costs on commercial freight transportation. Association’s Director of Economics and Government Relations, Max Fisher says there are no specific figures as to how high a level the DOT may call for in their rule.
Fisher says the current minimum insurance liability level required is at $ 750,000 per truck. He says if that goes up it’ll be costly for not only trucker but consumers as well.
Fisher says another concern is that there is already a shortage of truck drivers, and if the insurance rate requirements go up, that’ll just heighten that problem. He also says there is no proof raising insurance levels will have any demonstrable impact on improving highway safety.
