What it does
IH 00 60 is ISO's contingent cargo form. Carrier filings list it as the Contingent Cargo Coverage Form, with one schedule adding "(For Motor Truck Cargo Brokers)"; the ISO forms index also lists a contingent cargo coverage application (IH AP 60, 12 18). Contingent cargo protects the broker when the hauling carrier's cargo insurance does not respond to a loss for which the broker is held responsible. ISO publishes this form in its IH series of commercial inland marine forms. IH forms are used within the Commercial Inland Marine Coverage Part, together with the Commercial Inland Marine Conditions (CM 00 01) and the Common Policy Conditions.
Who needs it
Freight brokers and third-party logistics firms whose shipper contracts make them responsible for cargo. Shippers increasingly name brokers in claims when the hauling carrier is uninsured, underinsured or its cargo policy has an exclusion.
Quoting and selling notes
Ask for annual revenue, number of loads, commodities, how the broker vets carriers (authority, insurance certificates), maximum load value and contract terms with shippers. Contingent coverage usually applies only when the carrier's insurance does not pay, so it is not a substitute for verifying carrier insurance. ISO also has IH 60 02 for spoilage and FDA regulation loss under this form.
Before presenting it
ISO's IH forms are often adopted with carrier changes, and their wording differs from the filed CM forms. Obtain the carrier's specimen and walk the insured through covered property, property not covered, the exclusions, valuation, the deductible and any coinsurance or reporting condition, and match the limits to a current schedule of values.
