Insurance & Financial Responsibility

FMCSA

US federalAwaiting academy review Last reviewed: not yet reviewed
This overview has not been confirmed as current by the academy. Treat it as background reading and check the official source before relying on it.

For-hire interstate carriers must file proof of minimum public liability insurance; brokers must maintain financial security.

Federal minimum public liability for for-hire carriers (49 CFR 387.9, vehicles of 10,001 lb GVWR or more): $750,000 for non-hazardous property in interstate commerce; $1,000,000 for oil and certain hazardous materials; $5,000,000 for specified hazardous materials in bulk and other high-hazard loads. Cargo insurance is generally not a federal filing requirement for most property carriers, but brokers and shippers commonly require it by contract (often $100,000).

Brokers and freight forwarders must keep $75,000 of financial security at all times — a BMC-84 surety bond or BMC-85 trust fund (49 CFR 387.307). Under FMCSA's Broker and Freight Forwarder Financial Responsibility rule (final rule November 2023, fully in effect 16 January 2026): trust assets must be convertible to cash within 7 calendar days; sureties and trustees must notify FMCSA when the security falls below $75,000 or the broker is in financial failure; FMCSA then gives notice and suspends the broker's authority if it is not restored within 7 business days.

Official source: FMCSA

Educational information only. Requirements can change. Verify current requirements with the applicable government authority or qualified professional before acting.

Related regulatory updates
  • Broker & freight forwarder financial responsibility
    Effective Jan 15, 2026
    Awaiting academy review Last reviewed: not yet reviewed
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