What does Carmack Amendment mean?

Carmack Amendment meaning in Insurance Dictionary

An amendment into the Interstate Commerce Act that delivers that a typical carrier that gets residential property for transportation to a spot an additional state or area, the District of Columbia, or an adjacent foreign nation will be responsible for any loss, harm, or injury it causes to its cargo. It makes a carrier liable, without proof of neglect, for many problems for the goods. First enacted in 1906, the amendment pertains to motor providers (UPS, FedEx, and stuff like that), airlines, and freight forwarders including railroads along with other sundry typical carriers.