FMCSA issues carrier financial form guidance
Oct 7, 2005 12:05 PM
The Federal Motor Carrier Safety Administration (FMCSA) has issued new regulatory guidance for forms used to establish minimum levels of financial responsibility of motor carriers, according to information published in the Federal Register October 5.
The questions and answers for forms MCS-90, MCS-90B, MCS-82, and MCS-82B are applicable to motor carrier operations on a national basis.
FMCSA said the guidance will provide the motor carrier and financial services industries and federal, state, and local law enforcement officials with a clearer understanding of the applicability in particular situations.
The agency had received a petition for rulemaking from several insurance companies and the American Insurance Association to amend Form MCS-90, Endorsement for Motor Carrier Policies of Insurance for Public Liability, to incorporate several changes, most of which were suggested to clarify the meaning of Form MCS-90.
FMCSA denied the petition for rulemaking, saying petitioners' concerns could be adequately addressed without rulemaking through the formal agency guidance to be published in the Federal Register.
The regulatory guidance became effective immediately. To see the information, click here for the Federal Register.
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