PROPOSED LEGISLATION SEEKS TO HELP VICTIMS OF TRUCK CRASHES AND THEIR FAMILIES RECOVER SUFFICIENT COMPENSATION

 Posted on July 30, 2019 in Truck Accidents

By: Eddie Hettel

The victims of tragic truck crashes and their families are limited in their ability to recover adequate compensation. Under existing U.S. law, commercial motor carriers are only required to carry a minimum of $750,000 in insurance coverage. Despite a congressional mandate that requires insurance levels to be regularly updated, that number has not moved since 1980. 

Truck crashes often result in life-threatening injuries and in the worst cases, death. When victims suffer such injuries, or their families lose a loved one, there are often significant financial burdens to bear. Victims that survive these horrific accidents are often left with life-altering injuries that require significant medical treatment. Additionally, the families of victims who suffer death in such accidents are left without the financial support of the deceased.

The existing law is out of date and disregards the immense costs endured by the victims of commercial trucking accidents. New legislation introduced by Illinois Congressman Jesus “Chuy” Garcia aims to modernize the current law. This bill, known as the INSURANCE Act, provides a long-overdue increase to the amount of insurance that commercial motor companies are required to carry. If passed, it will raise the minimum liability insurance requirements for carriers and adjust it to the rate of inflation and rising medical costs.

 The bill will also give commercial trucking companies a higher incentive to practice safe driving. Stricter financial penalties will encourage carriers to prioritize safe driving and limit accidents that could have otherwise been avoided.