A million doesn't seem like enough. The reason I asked is that bad accident in MS a few weeks ago, which will probably go into the multi-millions. That's where the gray area would come in. No ISP could probably handle that type of judgement.
Well there is the endemnity insurance that Fedex provides. That covers damage caused to property while packages are on-board. A terminal north of here had a driver fall asleep at the wheel a few years ago and end up in the river. Complete loss of cargo not to mention nightmare with the EPA. Except for injury to the driver (luckily minor) and replacement of the vehicle, Fedex ate the entire cleanup cost and cargo replacement cost.