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Increasing insurance requirements for trucking increases costs

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The Federal Motor Carrier Safety Administration has announced an increase in trucking crashes and fatality rates. The legal professionals involved in many of these cases believe that increasing trucking insurance will create a better financial reward to those impacted and hopefully reduce these crash and fatality rates associated within trucking. Since the pandemic, there has been a decrease in overall traffic creating a smaller attention span amongst all drivers and increased speeds. So, although the roads might be slightly more free, they might not be safer. There are so many factors that impact these rates but the initial point of solution being presented is to increase insurance costs. Considering all the challenges being faced in the trucking industry this can be a point of improvement for everyone. The factors contributing to responsibility and liability are more than a few and important to understand the different things that contribute to these high rates. There are still gray areas and it’s very hard to pin point one or two reasons, but this is just one step towards the right direction.