49 U.S.C. § 44308

Section 44308 · Administrative

Current version, with additions and removals from the July 5, 1994 version.

Current — February 14, 2012

As of July 5, 1994

(a) Commercial Practices.—The Secretary of Transportation may carry out this chapter consistent with commercial practices of the aviation insurance business.

(b) Issuance of Policies and Disposition of Claims.—(1) The Secretary may issue insurance policies to carry out this chapter. The Secretary may prescribe the forms, amounts insured under the policies, and premiums charged. The Secretary may change an amount of insurance or a premium for an existing policy only with the consent of the insured.

(b) Issuance of Policies and Disposition of Claims.—(1) The Secretary may issue insurance policies to carry out this chapter. The Secretary may prescribe the forms, amounts insured under the policies, and premiums charged. Any such policy may authorize the binding arbitration of claims made thereunder in such manner as may be agreed to by the Secretary and any commercial insurer that may be responsible for any part of a loss to which such policy relates. The Secretary may change an amount of insurance or a premium for an existing policy only with the consent of the insured.

(2) For a claim under insurance authorized by this chapter, the Secretary may—

(A) settle and pay the claim made for or against the United States Government; ~~and~~

(A) settle and pay the claim made for or against the United States Government;

(B) pay the amount of a ~~judgment entered against the Government.~~

(B) pay the amount of a binding arbitration award made under paragraph (1); and

(c) Underwriting Agent.—(1) The Secretary may, and when practical shall, employ an insurance carrier or group of insurance carriers to act as an underwriting agent. The Secretary may use the ~~agent~~ to adjust claims under this chapter, but claims may be paid only when approved by the Secretary.

(c) Underwriting Agent.—(1) The Secretary may, and when practical shall, employ an insurance carrier or group of insurance carriers to act as an underwriting agent. The Secretary may use the agent, or a claims adjuster who is independent of the underwriting agent, to adjust claims under this chapter, but claims may be paid only when approved by the Secretary.

(2) The Secretary may pay reasonable compensation to an underwriting agent for servicing insurance the agent writes for the Secretary. Compensation may include payment for reasonable expenses incurred by the agent but may not include a payment by the agent for stimulation or solicitation of insurance business.

(3) Except as provided by this subsection, the Secretary may not pay an insurance broker or other person acting in a similar capacity any consideration for arranging insurance when the Secretary directly insures any part of the risk.

(d) Budget.—The Secretary shall submit annually a budget program for carrying out this chapter as provided for wholly owned Government corporations under chapter 91 of title 31.

(e) Accounts.—The Secretary shall maintain a set of ~~accounts. The Comptroller General shall audit those~~ accounts under chapter 35 of title 31. Notwithstanding chapter 35, the Comptroller General shall allow credit for expenditures under this chapter made consistent with commercial practices in the aviation insurance business when shown to be necessary because of the business activities authorized by this chapter.

(e) Accounts.—The Secretary shall maintain a set of accounts for audit under chapter 35 of title 31. Notwithstanding chapter 35, the Comptroller General shall allow credit for expenditures under this chapter made consistent with commercial practices in the aviation insurance business when shown to be necessary because of the business activities authorized by this chapter.

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Versions

Feb 14, 2012 – presentcurrentviewing
Annual edition
Subsec. (c)(1). Pub. L. 112–95 substituted “agent, or a claims adjuster who is independent of the underwriting agent,” for “agent” in second sentence.
▸ what changed
Source credit
Pub. L. 112–95, title VII, §704, Feb. 14, 2012, 126 Stat. 118.
Dec 2, 1997 – Feb 14, 2012
Annual edition
Subsec. (b)(1). Pub. L. 105–137, §4(a), inserted after second sentence “Any such policy may authorize the binding arbitration of claims made thereunder in such manner as may be agreed to by the Secretary and any commercial insurer that may be responsible for any part of a loss to which such policy relates.”
▸ what changed changes vs current →
Source credit
Pub. L. 105–137, §4, Dec. 2, 1997, 111 Stat. 2640
Oct 19, 1996 – Dec 2, 1997
Annual edition
Subsec. (e). Pub. L. 104–316 substituted “for audit” for “. The Comptroller General shall audit those accounts”.
▸ what changed changes vs current →
Source credit
Pub. L. 104–316, title I, §127(e), Oct. 19, 1996, 110 Stat. 3840
Jul 5, 1994 – Oct 19, 1996
Annual edition
changes vs current →
Source credit
Pub. L. 103–272, §1(e), July 5, 1994, 108 Stat. 1171

See all changes since 1994 → current

Every enactment and amendment in this section's credit is listed. Full text is shown for versions back to 1994; earlier amendments are recorded by date and act, without pre-1994 full text.

Practice areas using this title

Aviation Accident Litigation Helicopter Crash Law Mass Transit Accident Litigation Transportation Law Truck Accident Litigation

Part of

Interstate Commerce Act of 1887 (ICA)
First federal regulatory statute. Created the Interstate Commerce Commission to regulate railroads. Commission was abolished in 1995; jurisdiction transferred to the Surface Transportation Board.
49 U.S.C. (substantially superseded by ICC Termination Act of 1995)