EMA Again Joins Coalition in Letters Opposing Minimum Liability Insurance Increase
This week, EMA joined a coalition in letters to Senate Democratic Leadership and Senate Republican Leadership urging them not to include language that would increase the minimum liability insurance requirements for motor carriers.
Such language was included in the recently passed House INVEST in America Act highway bill but was not included in the Senate Commerce Committee’s highway bill. The letter encourages senators to keep the language out of the final senate highway bill, and out of the final conferenced bill.
The House bill would increase minimum liability insurance requirements for motor carriers by 167 percent from the current level of $750,000 to $2,000,000. Federal research has demonstrated such a change is entirely unnecessary, would do nothing to improve highway safety, would needlessly jeopardize countless blue-collar jobs, and destroy many small, family-owned businesses.
Raising insurance minimums for countless businesses engaged in trucking would undoubtedly cause many to shutter, leading to the loss of American jobs at the worst time possible. This policy clearly does not belong in legislation that is designed to rebuild our infrastructure and encourage economic growth.
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. EMA will continue to oppose efforts to raise minimum liability insurance.