Financial responsibility
means having insurance policies or surety bonds sufficient to satisfy the minimum
public liability requirements. Public liability means
liability for bodily injury, property damage, and environmental restoration.
Environmental restoration means restitution for the
loss, damage, or destruction of natural resources arising out of an accidental
discharge of toxic or other environmentally harmful materials or liquids.
Requirements for
Financial Responsibility
Motor carriers of property operating commercial motor vehicles in interstate,
foreign, or intrastate commerce, and for-hire carriers of passengers operating
in interstate or foreign commerce must have at least the minimum amount of insurance
required by law.
(See the Schedule of Limits in this folder for minimum levels of financial responsibility.)
Proof
The motor carrier must have proof of the minimum level of insurance at the company's
principal place of business.
Proof may be shown by any of the following:
A MCS-90 Form should be carried
on board the cabin.
Endorsements for Motor
Carriers policies of insurance for public liability under Sections 29 and
30 of the Motor Carrier Act of 1980 (Form MCS-90) issued by an insurer.
Endorsements for Motor
Carriers of Passengers policies of insurance for public liability under Section
18 of the Bus Regulatory Reform Act of 1982 (Form MCS-90B*) issued by an insurer.
A Motor Carrier Surety
Bond for public liability under Section 30 of the Motor Carrier Act of 1980
(Form MCS-82) issued by a surety.
A Motor Carrier of Passengers
Surety Bond for public liability under Section 18 of the Bus Regulatory Reform
Act of 1982 (Form MCS-82B*) issued by a surety.
A written decision,
order, or authorization of the Interstate Commerce Commission authorizing
the motor carrier to self-insure under 49 CFR 1043.5.
* Examples of Forms MCS-90, MCS-90B, MCS-82, and MCS-82B are included in this
folder.
FORMS
Motor Carrier Public
Liability Surety Bond Under Section 18 of the Bus Regulatory Reform Act of
1982. PDF
- HTML
Endorsement for Motor
Carrier Policies of Insurance for Public Liability Under Section 18 of the
Bus Regulatory reform Act of 1982. PDF
- HTML
Endorsement for Motor
Carrier Policies of Insurance for Public Liability Under Sections 29 and 30
of the Motor Carrier Act of 1980. PDF
- HTML
Motor Carrier Public
Liability Surety Bond Under Sections 29 and 30 of the Motor Carrier Act of
1980. PDF
- HTML