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Truckers Minimum Insurance Limits May Increase in 2017

Most likely later in 2017 truckers would be required to buy higher insurance limits under a government proposal, although how much higher is not yet known.

The Federal Motor Carrier Safety Administration (FMCSA) concluded in a report to Congress that current minimum financial responsibility limits for the commercial motor vehicle industry — including the $750,000 limit for general freight carriers— are inadequate to meet the costs of some crashes, mainly because of rising medical costs.

DOT Insurance Verification

There is fast and easy way to verify truck insurance with Department of Transportation DOT. All you need to know is the USDOT Number or Docket Number. That's all that needs to be entered. If you do not know the USDOT Number or Docket Number, you can search on any combination of Legal Name, DBA Name (Doing Business As Name), or State to narrow the search. If searching by name make sure you are entering state to limit the search. The search always looks for a legal or DBA name which begins with the text entered.

Energy Boom Intensifies Trucker Shortage

Challenge: Energy Boom Intensifies Trucker Shortage - Rising demand for drivers in the energy sector is exacerbating a perennial challenge for the trucking industry: hiring and retaining qualified employees. The movement of crude oil by truck has increased significantly in the US during recent years as producers have tapped into shale formations in Texas and North Dakota. The trend has amplified demand for drivers, particularly those licensed to transport oil and chemicals, creating additional competition among trucking companies.

Trucking Industry Report - Overview and Competitive Landscape

Companies in this industry provide long-distance and local trucking, including truckload (TL) and less-thantruckload (LTL) services. Major companies include US-based Con-way, JB Hunt, Schneider National, Swift Transportation, and YRC Worldwide, as well as Hitachi Transport System and Seino Transportation (Japan),
Norbert Dentressangle (France), Stobart Group (UK), and TransForce (Canada).

Next Generation Truck - Epic

Have you seen next generation truck yet? If not check this amazing video. Watch Jean-Claude Van Damme carry out his famous split between two reversing trucks. Never done before, JCVD says it's the most epic of splits...

This live test was set up to demonstrate the precision and directional stability of Volvo Dynamic Steering - a world first technology that makes the new Volvo FM easier to drive.

DOT Regulations

Interstate vs. Intrastate Definitions

Interstate commerce is the movement of a shipment or service across state or international borders, or the intent to continue a movement within a state that originated from another state or country. In practical terms, you could still be considered interstate commerce even if you never cross the state line, depending upon the origin and destination of the shipment or service.

Intrastate commerce is the movement that originates in a single state, moves in that state only and delivers in that originating state.

Truck Hit Object Crashes

Hit object crashes (i.e., backing into objects, striking objects during turns, etc.) are among the more frequent loss types a truck fleet will experience. These collisions usually occur at low speeds and result in relatively minor damage. These types of collisions often occur in truck stop and rest area parking lots or while maneuvering in/out of shippers/receivers docking areas.

New House Bill Would Increase Trucking Insurance Minimum

New bill referred to the House’s transportation committee last week would raise the minimum insurance required by trucking companies from $750,000 to $4,422,000.

The Safe and Fair Environment on Highways Achieved through Underwriting Levels Act (SAFE-HAUL) was introduced by Rep. Matt Cartwright (D-Penn.) and has seven co-sponsors.

The bill cites a recent study by the Trucking Alliance — a group that consists of seven large fleets — that says 42 percent of accident settlements paid by carriers between 2005 and 2011 exceeded the $750,000 minimum.

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