[Federal Register Volume 67, Number 129 (Friday, July 5, 2002)]
[Notices]
[Pages 44924-44925]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-16893]


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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration


Third Party War Risk Liability Insurance

AGENCY: Federal Aviation Administration, DOT.

ACTION: Notice of Issuance of New FAA Third Party War Risk Liability 
Insurance.

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SUMMARY: The Federal Aviation Administration has issued a new Third 
Party War Risk Liability Insurance Policy to replace the policies that 
terminated on June 18, 2002. The new Policy changes the amount and 
basis of the premium to be charged, incorporates interim amendments 
made since the issuance of the premium policies, and adds actions in 
the event of default by the insured due to failure to pay premiums. The 
premium is based upon the extent to which the Insured conducts 
passenger or (dedicated) air cargo operations, or a combination of 
both. There are four classes of premiums based upon the coverage limit 
held by the carrier.

[[Page 44925]]



Class I: Coverage less than One Billion U.S. Dollars--
    $0.03 x ______ enplanements + ($0.03 x ______ RPMs /         $______
     1000) + $0.17 x RTMs / 1000.............................
Class II: Coverage One Billion U.S. Dollars or more, but less
 than Two Billion U.S. Dollars--
    $0.04 x ______ enplanements + ($0.04 x ______ RPMs /         $______
     1000) + $0.25 x RTMs / 1000.............................
Class III: Coverage Two Billion U.S. Dollars or more, but
 less than Three Billion U.S. Dollars--
    $0.05 x ______ enplanements + ($0.05 x ______ RPMs /         $______
     1000) + $0.30 x RTMs / 1000.............................
Class IV: Coverage Three Billion U.S. Dollars or more--
    $0.05 x ______ enplanements + ($0.05 x ______ RPMs /         $______
     1000) + $0.33 x RTMs / 1000.............................
                                                              ----------
        Total Premium........................................    $______
 


DATES: New Policy in Effect: 23:59 GMT (7:59 pm EDT) June 18, 2002 
until 23:59 GMT (7:59 pm EDT) August 17, 2002.

FOR FURTHER INFORMATION CONTACT: Helen Kish, Program Analyst, APO-3, or 
Eric Nelson, Program Analyst, APO-3, Federal Aviation Administration, 
800 Independence Ave., SW, Washington, DC 20591, telephone 202-267-9943 
or 202-267-3090. To obtain copy of the new policy go to FAA Insurance 
Web site: http://api.hq.faa.gov/911policies/inscover.html.

SUPPLEMENTARY INFORMATION: On June 13, 2002, the Secretary of 
Transportation authorized a 60-day extension of aviation insurance 
provided by the Federal Aviation Administration as follows:

MEMORANDUM TO THE PRESIDENT

    ``Pursuant to the authority delegated to me in paragraph (3) of 
Presidential Determination No. 01-29 of September 23, 2001, I hereby 
extend that determination to allow for the provision of aviation 
insurance and reinsurance coverage for U.S. Flag commercial air 
carrier service in domestic and international operations for an 
additional 60 days.
    Pursuant to section 44306(c) of chapter 443 of 49 U.S.C.--
Aviation Insurance, the period for provision of insurance shall be 
extended from June 18, 2002, through August 17, 2002.''

/s/ Norman Y. Mineta

    Affected Public: U.S. domestic airline industry--Air Carriers who 
previously were insured under the Third Party War-Risk Liability 
Insurance Policies with the Federal Aviation Administration or Air 
Carriers who are interested in obtaining insurance.

    Issued in Washington, DC on June 26, 2002.
Nan Shellabarger,
Deputy Director, Office of Aviation Policy and Plans.
[FR Doc. 02-16893 Filed 7-3-02; 8:45 am]
BILLING CODE 4910-13-M