Tuesday, August 4, 2015

Maryland Truck Accident Lawyers: Insurance for Truck Crashes

A recently proposed bill seeks to overhaul the trucking industry in an effort to increase safety on our nation’s highways.  The new bill, titled the Truck Safety Act, was introduced before Congress by Senator Cory Booker in mid-July 2015. The goal is to replace outdated standards with newer, more modern standards of truck safety. The bill addresses minimum insurance requirements, driver pay and crash avoidance technology. Higher Minimum Insurance Insurance minimums have not moved since being set at $750,000 back in 1980. That figure is the equivalent of more than two million dollars in today’s economy. The idea was that high premiums would discourage trucking companies from engaging in negligent practices or employing reckless drivers. In today’s standards, that figure is only enough to cover a fraction of a truck accident victim’s medical costs. The Truck Safety Act would double the minimum insurance coverage requirements from $750,000 to $1.5 million. The bill also includes

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