A bill to amend the Federal Aviation Act of 1958 relating to the filing of certain tariffs and the authority of the Civil Aeronautics Board to regulate liability of freight claims for interstate and overseas air transportation of property.

Amends the Federal Aviation Act of 1958 to require air carriers to file tariffs with the Civil Aeronautics Board stating their liability and claim rules, regulations, and charges regarding cargo losses. Requires air carriers to notify the Board in advance of any changes in such a tariff.

Authorizes the Board, upon complaint or on its own initiative, to conduct a hearing regarding the lawfulness of such a tariff. Authorizes the Board to temporarily suspend such a tariff pending such a hearing.

Directs the Board to require air carriers to maintain cargo liability insurance in such minimum amounts as the Board determines to be reasonably necessary to protect the shipping public.

Requires air carriers to submit quarterly reports to the Board regarding claims received, paid in full or part, declined, and pending.