A push by lawmakers to raise truck liability insurance for the first time in 40 years has advanced further than ever in Congress and the resulting rate increases would hit small trucking companies the hardest, according to an insurance expert.
The provision included in the Moving Forward Act, which the U.S. House of Representatives passed on July 1, raises the minimum coverage level for general freight from $750,000 per accident to $2 million. It would be adjusted every five years to account for...