Contingent Cargo Liability Insurance

for a freight brokerage you only need the mc dot boc3 UCR and a surety bond, cargo coverage are for carriers not brokers

 

This is correct, Pacific Surety was the best the rate I have seen for surety bonds if you are looking

 

While you don't NEED contingent coverage, you had better spend a lot of attention to your carrier partners' insurance ratings/certifications because if you don't have contingency, and the carrier insurance only partially pays, then there could be a shortfall that needs to be dealt with.

 

I have read so many different opinions regarding insurance for Brokers, professional and otherwise. And nothing is consistent. What if a Customer is requiring to be put on your Certificate of Insurance? If you are not required to carry insurance what do you do then?

 

that will be case by case, from my experience if we are working with a broker and we have the proper coverages they ask to be added to COI as proof that the coverage is active at this moment, if we don't have the proper coverage they wont be asking for the COI the deal dead in the water at that point

 

That’s why he said CONTINGENT cargo. It’s not required. It’s a CYA thing.