Legislation Would Increase Minimum Insurance Coverage Required For Trucking Companies Insurance legislation

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LAKEWOOD, Colo. -- Even if the code eventually holds semi-truck driver Rogel Aguilera-Mederos criminally to blame appropriate to the Interstate 70 truck crash that killed four people inside Lakewood inside April, suing his boss may barely be worth it.

As FOX31 has previously reported, confederate code only requires Castellano 03 Trucking to convey $750,000 inside disadvantage insurance, which is accurately what the company carries, according to a confederate form obtained by the Problem Solvers.

New legislation submitted by U.S. House Reps. Jesus G. "Chuy" Garcia on Illinois and Matt Cartwright on Pennsylvania would change that. The two Democrats have introduced the INSURANCE act, a measure that would increase the insurance minimums to be updated with inflation. The new bill would set the insurance minimum at $4.9 million per accident.

The mandatory minimum reporting on $750,000 hasn't changed since 1980 when the Motor Carrier Act passed.

"$750,000 isn't nearly adequate to cover even the non-medical expenses," said Fort Collins attorney Tom Metier, who is president-elect on the Academy on Truck Accident Attorneys and member on the American Association appropriate to Justice.

Metier said that while medical costs have skyrocketed since 1980, the price on disadvantage insurance has actually dropped.

"It costs less now appropriate to the $750,000 inside reporting inside real language than it did 40 years ago," he said.

The Motor Carrier Safety Act on 1980 was supposed to increase insurance minimums based supported by increase but never did. The new minimum on $4.9 million would be updated regularly supported by pace with increase if the INSURANCE do something passes.

In 2014, the Federal Motor Carrier Safety Administration proposed a rule change to increase mandatory minimums appropriate to insurance disadvantage appropriate to trucking companies. One recommendation was to change the $750,000 minimum to $10 million. But inside 2017, the Federal Motor Carrier Safety Administration backed off and decided to slay its own attempt to change the rules.

In its withdrawal notice dated June 5, 2017, the agency wrote, "FMCSA is not able to calculate economic benefits from having more financial resources available to assist crash victims associated with increased minimum financial responsibility limits."

If the new measure passes, it would not be retroactive, so it would not provide any important help to the families on the four people who were killed, the six who were injured or the car owners on the 28 vehicles that were incinerated. Under current law, that entire group will have to split $750,000 if the truck company's insurance company agrees to pay out its full coverage.

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