FEDERAL
AGENCY:
MARITIME
ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
AUTHORIZATION:
Merchant
Marine Act of 1936, Title XII, as amended, Public Law 81-763, 46
U.S.C. 1281-1294; Public Law 104-106.
To
provide war risk insurance whenever it appears to the Secretary
of Transportation that adequate insurance for waterborne commerce
cannot be obtained on reasonable terms and conditions from licensed
insurance companies in the United States.
TYPES
OF ASSISTANCE:
Insurance.
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USES
AND USE RESTRICTIONS:
Insurance
binders or policies on certain vessels in operation or under construction
are provided for nominal cost in peacetime.
ELIGIBILITY
REQUIREMENTS:
Applicant
Eligibility: All U.S. flag vessels, and certain
foreign flag vessels meeting specific criteria as determined by
the Maritime Administrator.
Beneficiary
Eligibility: Vessel owners, their crews, and
certain designated beneficiaries of deceased crew members.
Credentials/Documentation:
Applications, vessel data, unqualified contract of commitment,
and other supporting data as required by 46 CFR Part 308.
APPLICATION
AND AWARD PROCESS:
Pre-application
Coordination: None. This program is excluded
from coverage under E.O. 12372.
Application
Procedure: Complete and proper filing of applications,
supporting documents, and payment of appropriate binding fees
or promises as specified in 46 CFR Part 308.
Award
Procedure: Binders issued only to those applicants
that qualify.
Deadlines:
None.
Range
of Approval/Disapproval Time: From 5 to 15
working days.
Appeals:
Not applicable.
Renewals:
This program has been extended until June 30, 2005.
ASSISTANCE
CONSIDERATIONS:
Formula
and Matching Requirements: Not applicable.
Length
and Time Phasing of Assistance: Indeterminate;
depends on war situation and posture of the country.
POST
ASSISTANCE REQUIREMENTS:
Reports:
Not applicable in peacetime.
Audits:
Not applicable in peacetime.
Records:
Not applicable in peacetime.
FINANCIAL
INFORMATION:
Account
Identification: 69-4302-0-3-403.
Obligations:
(Contractual fees and underwriting agents' fees) FY 01 $43,000;
FY 02 est $1,000,000; and FY 03 est $1,000,000. The majority of
these fees is for underwriting agency fees.
Range
and Average of Financial Assistance: Applicable
only in designated combat areas, subject to terms of the binder.
PROGRAM
ACCOMPLISHMENTS:
As of September 2001, 269 war risk binders have been issued to U.S.
citizen-owned and foreign-flag registry and their crews. Insurance
effected under these binders cannot be obtained commercially during
wartime.
REGULATIONS,
GUIDELINES, AND LITERATURE:
Rules and Regulations are set forth under 46 CFR 308 (as published
under authority of Public Law 101-115) and 309 as amended from time
to time in the Federal Register.
INFORMATION
CONTACTS:
Regional
or Local Office: American War Risk Agency, 14
Wall Street, New York, NY 10005. Telephone: (212) 233-0300.
Headquarters
Office: Edmond J. Fitzgerald, Director, Office
of Insurance and Shipping Analysis, Maritime Administration, Department
of Transportation, Washington, DC 20590. Telephone: (202) 366-2400.
Web
Site Address: http://www.marad.dot.gov
EXAMPLES
OF FUNDED PROJECTS:
Not applicable.
RITERIA
FOR SELECTING PROPOSALS:
Not applicable.
