[Federal Register Volume 73, Number 241 (Monday, December 15, 2008)]
[Notices]
[Page 76096]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-29536]


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DEPARTMENT OF TRANSPORTATION

Maritime Administration


Presidential Memorandum of November 25, 2008; Marine War Risk 
Insurance Under 46 U.S.C. Ch. 539

    On November 25, 2008, President George W. Bush approved the 
provision of vessel War risk insurance by memorandum for the Secretary 
of State and the Secretary of Transportation. The text of this 
memorandum reads:
    By virtue of the authority vested in me by the Constitution and 
laws of the United States, including 3 U.S.C. 301 and 46 U.S.C. Ch. 
539, I hereby:

     Approve the provision by the Secretary of Transportation of 
insurance or reinsurance of vessels (including cargo and crew) 
against loss or damage by war risks in the manner and to the extent 
provided in chapter 539 of title 46, United States Code, for trade 
in the Black Sea, whenever, after consultation with the Secretary of 
State, it appears to the Secretary of Transportation that such 
insurance adequate for the needs of the water-borne commerce of the 
United States cannot be obtained on reasonable terms and conditions 
from companies authorized to do insurance business in a State of the 
United States. To the extent individual policies involve an exposure 
in excess of the amounts available in the War Risk Revolving Fund, 
such policies may be issued only after consultation with the Office 
of Management and Budget. This approval to provide insurance or 
reinsurance is effective for 90 days, except that existing policies 
shall remain in force pursuant to the terms of these policies. I 
hereby delegate to the Secretary of Transportation, in consultation 
with the Secretary of State, the authority vested in me by 46 U.S.C. 
53902 and 53905.
    The Secretary of Transportation is directed to bring the 
approval to the immediate attention of all U.S.-flag vessel 
operators and to arrange for its publication in the Federal 
Register.

    By Order of the Maritime Administrator.
Leonard Sutter,
Secretary, Maritime Administration.
[FR Doc. E8-29536 Filed 12-12-08; 8:45 am]
BILLING CODE 4910-81-P