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DOT/FMCSA RIN: 2126-AB74 Publication ID: Fall 2014 
Title: ● Financial Responsibility for Motor Carriers, Freight Forwarders, and Brokers  
Abstract:

The FMCSA announces that it is considering a rulemaking to increase the minimum levels of financial responsibility for motor carriers, including liability coverage for bodily injury or property damage in the case of freight and passenger motor carriers. The legislative history of the Federal minimum insurance requirements strongly suggests that Congress recognized that crash costs would change and that DOT would regularly examine the levels and make adjustments as necessary. In completing the report Congress required under section 32104 of the Moving Ahead for Progress in the 21st Century Act (MAP-21), FMCSA has determined that the current financial responsibility minimums are inadequate to fully cover the costs of some crashes in light of increased medical costs and DOT's revised value of statistical life estimates. The FMCSA is also considering extending the financial responsibility requirements to private motor carriers, as authorized by section 4120 of the Safe, Accountable, Flexible, Efficient, Transportation Equity Act: A Legacy for Users (SAFETEA-LU). In addition, the Agency is considering financial responsibility requirements for passenger carrier brokers, implementation of certain MAP-21 provisions concerning broker and freight forwarder financial responsibility, revisions of the rules concerning self-insurance and trip insurance.

 
Agency: Department of Transportation(DOT)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 49 CFR 387   
Legal Authority: 49 USC 31138    49 USC 31139    PL 112-141, sec 32104    PL 109-59, sec 4120   
Legal Deadline:  None
Timetable:
Action Date FR Cite
ANPRM  12/00/2014 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses, Organizations  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Sean Gallagher
Department of Justice
Bureau of Alcohol, Tobacco, Firearms, and Explosives
99 New York Avenue NE,
Washington, DC 20226
Phone:202 648-7070
Email: sean.p.gallagher@usdoj.gov