Once again, ‘tractor trailer accidents’ are the focus of trucking industry news. It looks like the powers that be are about to ‘slap’ the trucking industry just one more time…. though this time it looks like it might knock us cold.
Rep. Matt Cartwright, has brought a bill before Congress, proposing that the minimum insurance requirements for carriers be increased. Presently, the minimum amount of insurance required for carriers of $750,000 was established over 30 years ago. The proposal wants to raise that threshold to 4.4 million….. absolute insanity!
The rep who introduced the bill, was associated with a law firm that specializes in personal injury and accident claims….. after he was elected to Congress, not long ago, he resigned from the company. Hmmmmm…. how convenient. What’s the REAL purpose of raising the minimum coverage…. one thing for sure, it will mean a lot more business for those lawyers who specialize in personal injury claims.
Why the Big Rate Hike?
The government believes this is necessary for public safety, as 100,000+ have died in tractor trailer accidents in the past 33 years. They want victims and/or their loved ones to be well compensated in the event of a crash.
This movement is apparently due to the increasing costs of health care…. the present amount of coverage of $750,000 is often not enough to meet the needs of victims, they say. The ‘Trucking Alliance’ (made up of 7 big carriers) state 42% of insurance claim settlements from truck accidents, for a recent 6 year time period, was in excess of $750,000. Many trucking associations say this is nothing but a lie.
What About a Big Rate Increase for Truckers?
I find it interesting to note that no one in government seems too shaken up by the fact that the front-line work force of truckers in this industry, haven’t had wage increases in dozens and dozens of years.
You can rest assured, that the freight rates and mileage rates for owner operators won’t increase 6 fold at the same time…. that’s a given.
Could This Be The End of Trucking?
This move may well be the end of the small trucking company and the single owner operator. When 4.4 million MINIMUM coverage is required, nearly 6X the present amount, the premiums will be staggering.
I’d like to know out the 100,000+ people killed in those accidents, how many were actually at fault for the crash? If there is an increase, let’s have a level playing field…. increase the minimum coverage for 4 wheeler insurance too.
But, we all know, that will never happen.If this proposal is accepted and passed, there won’t be any trucking industry left.
Is It Time?
When is enough.. enough? Is it time YET to do something? Is it time for drivers to sit and park for as long as it takes for the powers that be, to come to their senses?
Remember when the ‘internet strike’ took place recently? It didn’t take long for the government to give in. Maybe it’s time to unite and take a very, very hard stand.
But it would take all truckers to be involved and a unified front.
There is no doubt that the clock is ticking…. the trucking industry may be getting close to taking it’s last breath. The time is drawing near for the trucker nation to
take a stand.
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