[Weekly Compilation of Presidential Documents Volume 37, Number 50 (Monday, December 17, 2001)]
[Page 1788]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Memorandum on Provision of Marine War Risk Insurance Coverage

December 12, 2001

Memorandum for the Secretary of State, the Secretary of Transportation

Subject: Provision of Marine War Risk Insurance Coverage

    By virtue of the authority vested in me by the Constitution and laws 
of the United States, including 3 U.S.C. 301 and section 1202 of the 
Merchant Marine Act, 1936, as amended (the ``Act''), 46 U.S.C. App. 
1282, I hereby:
      Approve the provision by the Secretary of Transportation of 
      insurance or reinsurance of vessels (including cargoes and crew) 
      entering the Middle East region against loss or damage by war 
      risks in the manner and to the extent approved in title XII of the 
      Act, 46 U.S.C. App. 1281, et seq., for purposes of responding to 
      the recent terrorist attacks, whenever, after consultation with 
      the Department of State, it appears to the Secretary of 
      Transportation that such insurance adequate for the needs of the 
      waterborne commerce of the United States cannot be obtained on 
      reasonable terms and conditions from companies authorized to do an 
      insurance business in a State of the United States. This approval 
      is effective for 6 months. I hereby delegate to the Secretary of 
      Transportation, in consultation with the Secretary of State, the 
      authority vested in me by section 1202 of the Act, to approve the 
      provision of insurance or reinsurance for these purposes after the 
      expiration of 6 months.
    The Secretary of Transportation is directed to bring this approval 
to the immediate attention of all operators and to arrange for its 
publication in the Federal Register.
                                                George W. Bush

Note: This memorandum was released by the Office of the Press Secretary 
on December 14.