6 July 2002
Source: http://www.access.gpo.gov/su_docs/aces/fr-cont.html
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[Federal Register: July 5, 2002 (Volume 67, Number 129)]
[Notices]
[Page 44924-44925]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr05jy02-137]
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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.............................
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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