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Welcome to the WHAT THE TRUCK?!? newsletter. In this issue, new bill looks to raise insurance coverage by 556%, pallet shortages, Germany goes driverless and more.
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H.R. 2687 On April 20, U.S. Rep. Jesús “Chuy” García reintroduced a bill that would raise insurance requirements for motor carriers from $750,000 to $4.92 million and the Owner-Operator Independent Drivers Association (OOIDA) is not happy about it. OOIDA took to Facebook Monday, pleading with truckers to take action against the proposed 556% increase in coverage.
The case for Garcia argues that the Insurance Act is necessary as the minimum insurance requirement has not been increased since 1980. In June of last year, when House lawmakers voted to increase insurance minimums to $2 million, proponents of the amendment argued that the current insurance liability requirement does not adequately compensate victims of accidents involving large trucks. That bill died in the Senate.
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This week, we re looking at what insurance for autonomous trucks might look like and how truck manufacturers are booking additional revenue by selling chargers and hand-holding advice with electric trucks.
Insuring The Drive, Not The Driver
Autonomous trucking software developer TuSimple and Liberty Mutual insurance are working together to figure out how to insure a truck without a distracted, drowsy or otherwise human driver behind the wheel.
Truly driverless trucks are several years away, though TuSimple plans a fourth-quarter pilot on Arizona highways.
David Blessing, Liberty Mutual s chief underwriting officer for new mobility, says working with TuSimple, which operates 50 Level 4 highly autonomous trucks in three Southwestern states all with safety drivers will help develop custom insurance underwriting for early adopters and fleets that add autonomous trucks later.