Fair Compensation for Truck Crash Victims Act

This bill increases the minimum insurance coverage required for commercial trucking companies from $750,000 to $5,000,000 per incident. It also establishes a five-year automatic adjustment mechanism to update these insurance requirements based on medical cost inflation. The changes directly affect motor carriers transporting property and aim to ensure carriers maintain adequate financial responsibility to cover potential crash damages. The new requirements will take effect one year after the bill is enacted.