Study: Financial Responsibility Requirements for Commercial Motor Vehicles
About this Document
The minimum levels of financial responsibility for commercial motor carriers were established by Congressional legislation in the early 1980’s. The question today is whether these levels should be raised, weighing the benefits of improved compensation of crash victims, internalization of freight and passenger transportation costs, and reduction of truck- and bus-involved crashes, with costs imposed on commercial motor vehicle (CMV) operators, the insurance industry and other relevant considerations. Affected motor carriers are for-hire general freight and passenger carriers in interstate commerce and hazardous materials carriers.
This document is disseminated under the sponsorship of the U.S. Department of Transportation in the interest of information exchange. The United States Government assumes no liability for its contents or the use thereof. The contents of this report reflect the views of the contractor, who is responsible for the accuracy of the data presented herein. The contents do not necessarily reflect the official policy of the U.S. Department of Transportation. This report does not constitute a standard, specification, or regulation.