Maritime War Risk Insurance
Program Funding
Annual program obligations reported to SAM.gov.
Funded Projects
Examples of what this program has supported.
Program Objective
To provide war risk insurance to U.S.-flag and foreign vessels whenever it appears to the Secretary of Transportation that adequate insurance for waterborne commerce cannot be obtained on reasonable terms and conditions from commercial companies.
Eligibility
Eligible Applicants
- Unrestricted by Entity Type
All U.S. flag vessels, and certain foreign flag vessels meeting specific criteria as determined by the Maritime Administrator.
How to Apply
Award Procedure
Binders issued only to those applicants that qualify.
From 5 to 15 working days.
Program details & compliance
Description
To provide war risk insurance to U.S.-flag and foreign vessels
Mission Categories
Primary: Maritime
Use of Funds
Allowed Uses
Insurance binders or policies on certain vessels in operation or under construction are provided for nominal cost in times of peace, conflict, and national security purposes.
Required Documentation
Applications, vessel data, unqualified contract of commitment, and other supporting data as required by 46 CFR Part 308.
Reporting & Compliance
Formula
10 USC 2645