New York Codes, Rules and Regulations
Title 17 - DEPARTMENT OF TRANSPORTATION
Chapter VI - Transportation Regulations
Subchapter E - Motor Carriers
Article 8 - Insurance
Part 855 - INSURANCE REQUIREMENTS FOR MOTOR CARRIERS OF PROPERTY
Section 855.1 - Common and contract motor carriers

Universal Citation: 17 NY Comp Codes Rules and Regs ยง 855.1
Current through Register Vol. 46, No. 12, March 20, 2024

Every common and contract motor carrier of property under the jurisdiction of the commissioner transporting property for compensation shall secure and maintain and file with the commissioner a surety bond or certificate of a company authorized to do business in this State by the Superintendent of Insurance, or in lieu thereof, may file qualifications as a self-insurer, covering each motor vehicle so to be operated for the sum hereinafter set forth, conditioned for the payment of all judgments recovered against such motor carrier:

For personal injury or death to one person, $100,000;

For personal injury or death to all persons in one accident, $300,000, with a maximum of $100,000 for each person;

Property damage (excluding cargo insurance), $50,000;

For loss or damage to property being transported (cargo insurance), each motor vehicle, $5,000;

For loss or damage to property being transported (cargo insurance), aggregate losses or damages at any one time and place, $10,000.

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