motor carrier act of 1980

Minimum Financial Responsibility Requirements The Motor Carrier Act of 1980 requires that a commercial motor vehicle “has in effect the minimum levels of minimum responsibility,” in the form of liability insurance which ranges from $750,000.00 to $5,000,000.00 per accident, depending on the type of commodity being transported. Proof of the required financial responsibility must be maintained at the motor carrier’s place of business. The MCS-90 endorsement is the required proof that the motor carrier is in compliance with the federal regulations. However, “the endorsement is not a warranty by the insurer that the limits shown meet federal minimums; it is the motor carrier’s obligation –...