EMA Again Joins Coalition in Letter Opposing Minimum Liability Insurance Increase
This week, EMA joined a coalition in a letter to members and staff of the House Rules Committee in support of the Rep. Bost (R-IL) Amendment #220.
The Bost Amendment, which was not included in the INVEST in America Act, would have eliminated Section 4408, a harmful and unnecessary minimum liability insurance increase for motor carriers, which would also jeopardize countless small and family-owned businesses, as well as blue collar jobs. Section 4408 would increase minimum liability insurance requirements for motor carriers by 167%, from the current level of $750,000 to $2,000,000.
Federal research has demonstrated such a change is entirely unnecessary. Although the minimum increase would not directly impact petroleum carriers, it would set a precedent that could lead to an increase in requirements for marketers down the road.
Fortunately, the minimum liability insurance increase language is not included in the Senate bill and is unlikely to be added in the Senate. EMA will continue to oppose efforts to raise minimum liability insurance.