[Code of Federal Regulations]

[Title 49, Volume 5]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 49CFR387.311]



[Page 296-297]

 

                        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 297]]



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]