I am going to be starting a shipping brokerage company. What is
needed? Do i need to carry a certain type of insurance? What am I
liable for? Etc.

Starting such business depends on what your goal is.  Whether you want
to 1- subcontract everything to the co-loaders and the existing
companies, which I reccomand, or, 2- If you want to get your own
warehouse, apply for IATA (International Aviation Transportation
Agency), get licensed by the FAA, and FMC (Federal Maritime
Commission) in Washington.

Basically, both are lucrative and profitable.  The first is less
hassel, because, you become a broker and more or less a sales company
for the big boys, and believe me, it is just as profitable, where the
second, you need to identify a local market target, lease a ware house
and start on obtaining these licenses.

Good Luck