What is the minimum liability insurance requirement for a hauler of explosives, gas, or radioactive material?

The minimum liability insurance requirement for a hauler of explosives, gas, or radioactive material is indeed $5,000,000. This amount is established to ensure that there are sufficient funds available to cover potential damages and liabilities that may arise from accidents or incidents involving the transportation of highly hazardous materials. The rationale behind this high threshold stems from the significant risks associated with such materials, including the potential for catastrophic incidents that could harm people, property, and the environment.

This requirement serves as a protective measure not only for the public but also for the hauler, as having adequate liability insurance helps in mitigating financial risks related to legal claims, cleanup costs, and damages incurred as a result of an incident. The higher insurance amount reflects the heightened dangers and potential liabilities linked to transporting materials that pose serious safety threats.