[Code of Federal Regulations]
[Title 49, Volume 4]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR387.311]

[Page 1068-1069]
 
                        TITLE 49--TRANSPORTATION
 
                      DEPARTMENT OF TRANSPORTATION
 
PART 387_MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR 
CARRIERS--Table of Contents
 
Subpart C_Surety Bonds and Policies of Insurance for Motor Carriers and 
                            Property Brokers
 
Sec. 387.311  Bonds and certificates of insurance.

    (a) Public liability. Each Form BMC 82 surety bond filed with the 
FMCSA must be for the full limits of liability required under Sec. 
387.303(b)(1). Form MCS-82 surety bonds and other forms of similar 
import prescribed by the Department of Transportation, may be aggregated 
to comply with the minimum security limits required under Sec. 
387.303(b)(1) or Sec. 387.303(b)(2). Each Form BMC 91 certificate of 
insurance filed with the FMCSA will always represent the full security 
minimum limits required for the particular carrier, while it remains in 
force, under Sec. 387.303(b)(1) or Sec. 387.303(b)(2), whichever is 
applicable. Any previously executed Form BMC 91 filed before the current 
revision which is left on file with the FMCSA after the effective date 
of this regulation, and not canceled within 30 days of that date will be 
deemed to certify the same coverage limits as would the filing of a 
revised Form BMC 91. Each Form BMC 91X certificate of insurance filed 
with the FMCSA will represent the full security limits under Sec. 
387.303(b)(1) or Sec. 387.303(b)(2) or the specific security limits of 
coverage as indicated on the face of the form. If the filing reflects 
aggregation, the certificate must show clearly whether the insurance is 
primary or, if excess coverage, the amount of underlying coverage as 
well as amount of the maximum limits of coverage. * Each Form BMC 91MX 
certificate of insurance filed with the FMCSA will represent the 
security limits of coverage as indicated on the face of the form. The 
Form BMC 91MX must show clearly whether the insurance is primary or, if 
excess coverage, the amount of underlying coverage as

[[Page 1069]]

well as amount of the maximum limits of coverage.
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    *Note: Aggregation to meet the requirement of Sec. 387.303(b)(1) 
will not be allowed until the completion of our rulemaking in Ex Parte 
No. MC-5 (Sub-No. 2), Motor Carrier and Freight Forwarder Insurance 
Procedures and Minimum Amounts of Liability.
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    (b) Cargo Liability. Each form BMC 83 surety bond filed with the 
FMCSA must be for the full limits of liability required under Sec. 
387.303(c). Each Form BMC 34 certificate of insurance filed with the 
FMCSA will represent the full security limits under Sec. 387.303(c) or 
the specific security limits of coverage as indicated on the face of the 
form. If the filing reflects aggregation, the certificate must show 
clearly whether the insurance is primary or, if excess coverage, the 
amount of underlying coverage as well as amount of the maximum limits of 
coverage.
    (c) Each policy of insurance in connection with the certificate of 
insurance which is filed with the FMCSA, shall be amended by attachment 
of the appropriate endorsement prescribed by the FMCSA and the 
certificate of insurance filed must accurately reflect that endorsement.

[47 FR 55944, Dec. 14, 1982, as amended at 48 FR 43332, Sept. 23, 1983; 
48 FR 51781, Nov. 14, 1983; 50 FR 40030, Oct. 1, 1985; 62 FR 49941, 
Sept. 24, 1997; 68 FR 56199, Sept. 30, 2003]