A recently introduced U.S. House bill would increase the minimum liability insurance trucking companies must have to $4,422,000. This is an almost sixfold increase, from the current $750,000, which hasn’t changed in 33 years.
Introduced Friday, July 19, 2013, this bill is meant to protect our nation’s highways and provide for the compensation of victims of truck accidents said Rep. Matt Cartwright (D-Pa.), sponsor of the legislation. “This is a matter of public safety,” Cartwright said.
The $4,422,000 proposed level reflects an increase to the cost in present dollars for medical care and would cover the same amount of care as $750,000 did in 1980, Cartwright said.
Six representatives have signed on as co-sponsors of the bill, Cartwright said.
