There is no evidence in the provided sources or broader web information indicating that New Jersey has slashed autocab liability minimums. Instead, recent changes in New Jersey law, effective July 1, 2024, have increased the minimum liability insurance requirements for commercial motor vehicles (CMVs), including autocabs, under P.L. 2023, c. 276. Specifically, CMVs with a gross vehicle weight of 26,001 pounds or more must carry at least $1.5 million in liability coverage, while those between 10,001 and 26,000 pounds require at least $300,000. These requirements apply to vehicles registered or principally garaged in New Jersey, primarily for intrastate commerce, though the law’s application to interstate operations remains unclear.
The increased liability minimums are likely to raise insurance premiums, particularly impacting smaller operators and owner-operators who may need to purchase additional coverage, such as umbrella or excess policies, to meet the new thresholds. Industry concerns, voiced by groups like the New Jersey Motor Truck Association and the American Trucking Association, highlight potential cost burdens and ambiguity regarding compliance for interstate carriers. Many larger fleets already carry $2 million or more in coverage, so the impact may be less significant for them. However, smaller businesses face challenges due to rising premiums, higher deductibles, and declining freight rates.
If you were referring to a specific reduction in autocab liability minimums, please clarify or provide additional details, as the current data suggests an increase rather than a decrease. Alternatively, I can search for more recent developments if needed.