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Friday, April 19, 2024

Liability Insurance Mandated Increases.

The upcoming rule to increase the minimum amount of liability insurance that carriers and brokers must carry will have an additional step that allows fleets and owner-operators another chance to offer formal comment on the rule.

The proposed rule will first be issued as an Advanced Notice of Proposed Rulemaking, rather than simply a Notice of Proposed Rulemaking. The ANPRM’s publication is expected sometime this month. FMCSA sent the ruleto the White House’s Office of Management and Budget last week, and after its clearance there, the agency is set to publish the proposed rule.
The ANPRM will give the industry, the public and any other stakeholders the chance to make public comments on the rule in the regulations.gov rulemaking portal.

However, the agency must still issue a Notice of Proposed Rulemaking prior to issuing a final rule. The NPRM will also give all stakeholders another opportunity to comment.

The ANPRM this month will have a 60-day public comment period, according to a recent Department of Transportation report.