Under the motor carrier act of 1980, what is the minimum liability insurance requirement for a hauler of oil or certain categories of hazardous waste?

The minimum liability insurance requirement for a hauler of oil or certain categories of hazardous waste under the Motor Carrier Act of 1980 is $1,000,000. This amount is established to ensure that sufficient financial resources are available to cover damages that may arise from accidents involving the transportation of these potentially hazardous materials. The high coverage requirement reflects the increased risks associated with transporting such substances, which can have serious environmental and public safety implications if an incident occurs.

The requirement for $1,000,000 in liability insurance underscores the federal government's commitment to regulating the safety and environmental impact of hazardous waste transportation, ensuring that carriers are financially capable of addressing accidental spills, leaks, or other incidents. Adequate insurance provides a safety net for both the public and the environment, reinforcing the need for responsible practices in the transportation of oil and hazardous materials.