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Insurance Requirement To Be OOIDA's Biggest Battle This Year


A bill dubbed last year by the Owner-Operator Independent Drivers Association as the “poison pill” has reared its ugly head again.
Rep. Chuy Garcia, D-Ill., announced last week that he plans to reintroduce the Insurance Act, which would increase the minimum insurance requirement for motor carriers. While the text of the bill still has not been released, previous versions of the bill called for increases that would have been devastating to small-business truckers.
Garcia’s 2019 version of the bill called for the current minimum insurance of $750,000 to increase to nearly $4.925 million – and increase of more than 550%. Last year, Garcia tacked on an amendment to the highway bill that would have boosted the requirement to $2 million – an increase of 167%. In February, OOIDA Executive Vice President Lewie Pugh testified to a House committee that even the increase to $2 million could make a trucker currently paying $10,000 per year to have to start paying $20,000 ....

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