"For-hire" motor carrier

{
  "id": "MLC-T-INS-001571",
  "term": "\"For-hire\" motor carrier",
  "field": "Insurance and risk management",
  "definition": "An individual or company that transports goods or passengers for compensation, operating under specific regulations governing commercial transportation. These carriers typically require specialized insurance coverages, such as motor truck cargo legal liability and higher liability limits, due to the increased risks associated with public conveyance. They are subject to oversight by federal or state transportation authorities.",
  "url": "https://mlchart.com/terminology/insurance/for-hire-motor-carrier/"
}