FMCSA withdraws ANPRM on financial responsibility
Posted June 6, 2017
Public comments did not provide the Federal Motor Carrier Safety Administration (FMCSA) with the necessary data it needed to move forward with rulemaking to revise minimum levels of financial responsibility for motor carriers, freight forwarders, and brokers.
As a result, the agency is withdrawing its advance notice of proposed rulemaking (ANPRM) from November 28, 2014 (79 FR 70839).
FMCSA received a significant number of comments in response to the ANPRM. However, the information received did not provide sufficient cost or benefit data, such as:
- Industry practice with respect to the level of liability limits in excess of the Agency's minimum financial responsibility requirements,
- Cost of such premiums and the frequency of, and
- Amount by which bodily injury and property damage claims exceed policy liability limits.
Anecdotal and hypothetical data provided by commenters left FMCSA unable to perform a systematic cost-benefit analysis in order to justify raising its minimum levels of financial responsibilities.
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