Financial Responsibility Requirements for Commercial Motor Vehicles

Details

• Creators:
  Hymel, Kent ; Lee, Douglass B. ; Pearlman, Jonathan ; Pritchard, Robert ; Rainville, Lydia
• Corporate Creators:
  John A. Volpe National Transportation Systems Center (U.S.)
• Subject/TRT Terms:
  • Commercial vehicles
  • Motor carriers
  • Liability insurance
  • Financial responsibility
  • Insurance rates
  • Costs
  • Traffic crashes
  • Fatalities
  • Injury severity
  • Policy
• Publication/ Report Number:
  FMCSA-RRA-12-045
• DOI:
  https://doi.org/10.21949/1502975
• Resource Type:
  Tech Report
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. Department of Transportation. Federal Motor Carrier Safety Administration. Office of Analysis, Research, and Technology
• Abstract:
  Minimum liability insurance levels and related requirements for motor carriers to demonstrate financial responsibility in case of damages from crashes were established in the 1980’s by Congressional legislation. These levels have not been changed since then. The question is whether these levels should be raised, weighing the benefits of improved compensation of injured third parties, internalization of freight and passenger transportation costs, reduction of truck- and bus-involved crashes, costs imposed on commercial motor vehicle (CMV) operators, and other relevant considerations. Affected motor carriers are for-hire general freight and passenger carriers in interstate commerce and hazardous materials carriers.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/169/dot_169_DS1.pdf
• File Type:
  [PDF - 1.94 MB]
• Collection(s):
  Federal Motor Carrier Safety Administration
• Main Document Checksum:
  urn:sha-512:3bf82e8a466652c785c2d30dda9f66d2b3bef202346140129599b39155526ed95195a5c043479e72d31cfa7bd76cb60f4928789e73b2f65d8477912d8f1f8a31