Tag: insurance: Page 6

Division on liability insurance hike in the spotlight at regulatory meeting

An FMCSA advisory committee discussion offered insight into how the agency will proceed with its rulemaking to increase liability insurance minimums and the potential consequences facing small business truckers if and when an increase occurs.

October 28, 2014

Could you survive a hike in liability insurance to $2 million? $4 million? Do you already carry well above the minimum required for property carriers. If you’re using a mobile device, tap the image to call and weigh in. If you’re on a desktop, call 530-408-6423. Make sure to tell us your name and state of residence, and we’ll put a podcast together rounding up the responses.

Insurance increase rule, speed limiter rule running behind FMCSA’s projected schedule

File this under “no news can sometimes be news” — Two trucking-related federal rules in the works have missed projected schedules for their advancement through the rulemaking process.

October 22, 2014

An FMCSA rule to require speed limiters in trucks is expected to be sent to the White House for approval this month. However, it’s running behind the DOT’s project Oct. 9 date, as is the agency’s rule to raise liability insurance minimums.

+25 percent: What double the liability insurance coverage will likely cost

One insurance rep cites a likely 25 percent increase in premiums for independent owner-operators boosting $1 million liability coverage to $2M. More on FMCSA’s expected insurance-hike proposal here.

September 30, 2014

Current insurance coverage amounts

What will a mandatory minimum insurance hike cost an owner-operator?

Liability insurance, particularly for new owner-operator businesses, can rank number one for in fixed costs for an independent without a truck payment — $10K a year or more for a new business. If you’ve boosted your total coverage amount from $750K or $1 million upward in recent years, how much more did you subsequently pay in premiums?

September 16, 2014

Since our last comprehensive report on the liability insurance market for owner-operators, premiums have been on the rise, in particular for new businesses, showing $10K a year or more in some areas.

Independents: How much liability insurance do you carry?

With FMCSA preparing a rule to increase the minimum level of required liability insurance for carriers, this rule probes current levels of coverage among owner-operators with their own authority.

September 16, 2014

Insurance That Fits

Who says truckers can’t agree?

In the wake of the scandal over the Maxim ad, Wendy says, “let congress know how much of a target the trucking industry will be if the insurance minimums are raised from $750,000 to $4 million,” as some have proposed.

June 6, 2014

OOIDA’s “Fighting for Truckers” website includes this linked form facilitating drivers’ letters to their Congressional reps over the issue of a proposed insurance-minimum hike for carriers.

FMCSA: Current insurance minimums for carriers ‘inadequate,’ new rule coming

The current $750,000 minimum liability insurance required to be held by carriers is too low, said the Federal Motor Carrier Safety Administration this week, and the agency plans to create a rule upping that minimum.

April 22, 2014

Obamacare case analysis: Stick with the wife’s insurance

Owner-operator Michael Wright, of Michigan, runs through health-insurance numbers as he contemplates potential moves in 2014 as the Affordable Care Act gets closer to implementation.

October 14, 2013

This image greets visitors to the HealthCare.gov central portal for applications for insurance purchased through the public exchanges mandated by the Affordable Care Act, or “Obamacare.” Best estimates of the cost of coverage for your particular situation, without going most of the way through the application process, can be found via the Kaiser Family Foundation’s costs/subsidy calculator, though only Silver-level plans are estimated there.

Is Obamacare impacting your 2014 insurance preps?

Owner-operators, are you seeing insurances rates on the new exchanges higher or lower than what you pay now for coverage, or are new requirements causing your current insurer to adjust rates? Weigh in via this poll.

October 3, 2013

Obamacare upside for independent contractor model?

Only if insurance rates get reasonable, as it were, on the long-term basis.

October 2, 2013

Download Transport Capital Partners’ most recent business expectations survey of large and small fleets by clicking here.

Overdrive Extra

Insurance choices: Pay to play or pay the fine?

For owner-operators in certain situations, Obamacare will solve some health care financing problems. It also creates an unprecedented health care financing problem – fines – for those who want no part of health insurance. Some of the clients of owner-operator financial services provider ATBS will find the ACA policies to be “something they can actually […]

October 1, 2013

The insurance plan exchanges are run by the states or, in states that opted out of the program, the federal government.

Obamacare insurance exchange premiums in N.Y., elsewhere

New York State’s release of monthly premium rate information in its 2014 health insurance exchange showed a reduction for many versus current individually purchase health plans.

July 18, 2013

For information on individual and small-business enrollment issues, start out the process at healthcare.gov.

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