What Was Map 21 Designed to Do?

--Brokers Bond increases to $75,000  49 USC 13903 & 4 then  Sec 32918

--Insurance companies will probably no longer issue BMC 84 as they become “personally liable” for loss

--Group Bonds now available to spread the risk

 

--Broker required to have “training” or prove 3 years prior brokering experience to qualify for License     Sec 32916

--LoadTraining.com Certification process meets and exceeds any training requirements stated at this time  (except brokering of household goods)

 

--BROKERS have to reapply every 5 years for Bond and License Sec 32917

 

--PENALTIES for non-compliance. Sec 32918 (7) ; 32919, 14916

--NOT TO EXCEED $10,000 PER LOAD

 

Rumored ONE DING (FAILURE TO PAY) BROKER MAY REAPPLY AFTER 5 YEARS

BROKER PERSONALLY LIABLE FOR ALL DEBTS IF FAILED, RE INSTATEMENT IMPOSSIBLE WITHOUT PAYMENT OF PAST BROKERING DEBTS.

INDIVIDUAL BROKERS and their families scrutinized to eliminate churners

A MOTOR CARRIER brokering without License , subject to reduction in rating

Other Bonds Available

OPENING HOURS

Monday-Friday

8.30am-5:00 p.m. EST

 

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ADDRESS

2005 Ailor Avenue
Knoxville, TN 37921
sales@classictruckinsurance.com
Tel: 888-498-0255
Fax:865-522-7772

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Disclaimer:  Our General insurance Glossary is for general information only. We  do not warrant the information found here as usual and customary for assessment of insurance claims or pay outs. Insurance terminology could vary widely per State or Insurance company acceptability. Contract language can vary widely dependent upon  many factors. The information contained here is meant to be general in scope. We recommend contacting your insurance agent or the insurance bureau in your state for exactly what is appropriate in your state .