Ask X3What does 49 CFR 387.311 (Bonds and certificates of insurance) require?
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Based on 49 CFR 387.311, the requirements for bonds and certificates of insurance are as follows:
Public Liability:
* Form BMC 82 surety bonds: Each form filed with the FMCSA must cover the full limits of liability required under § 387.303(b)(1).
* Form MCS-82 and similar surety bonds: These may be aggregated to meet the minimum security limits required under § 387.303(b)(1) or § 387.303(b)(2). *(Note: Aggregation to meet § 387.303(b)(1) is not allowed until the completion of rulemaking in Ex Parte No. MC-5 (Sub-No. 2)).*
* Form BMC 91 certificates of insurance: Each form filed with the FMCSA must always represent the full security minimum limits required for your carrier while in force. Previously executed Form BMC 91 filings left on file and not canceled within 30 days are deemed to certify these same coverage limits.
* Form BMC 91X certificates of insurance: Each form must represent either the full security limits or the specific security limits indicated on the face of the form. If aggregation is used, the certificate must clearly show if the insurance is primary or excess, and include the amounts of underlying coverage and maximum coverage limits.
* Form BMC 91MX certificates of insurance: Each form must show the security limits indicated on its face and clearly state whether the insurance is primary or excess, along with the amounts of underlying coverage and maximum limits.
Cargo Liability:
* Form BMC 83 surety bonds: Each form filed with the FMCSA must be for the full limits of liability required under § 387.303(c).
* Form BMC 34 certificates of insurance: Each form filed with the FMCSA must represent the full security limits or the specific security limits indicated on its face. If aggregation is used, the certificate must clearly show if it is primary or excess coverage, as well as the underlying coverage amount and maximum coverage limits.
Policy Endorsements:
* Every insurance policy connected to a certificate of insurance filed with the FMCSA must include the appropriate FMCSA-prescribed endorsement attached to it, and the filed certificate of insurance must accurately reflect that endorsement.