Insurance; establish minimum requirements for certain large motor vehicles not subject to minimums under Motor Carrier Regulatory Law.

HB 1273 requires owners or operators of large motor vehicles (over 10,000 pounds gross weight) used for transporting property on Mississippi public highways to maintain insurance or bonds meeting federal standards (49 CFR part 387). It directly affects businesses operating such vehicles that currently fall outside existing insurance requirements for carriers like common or contract carriers. The bill establishes a minimum insurance amount to cover public injury or property damage claims, aligning with U.S. Department of Transportation rules. This creates a new regulatory requirement for a specific category of commercial vehicles not previously subject to these insurance mandates.