Provision of Marine War Risk Insurance Coverage

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Title 3--
The President

Memorandum of November 25, 2008

Provision of Marine War Risk Insurance Coverage

Memorandum for the Secretary of State[,] the Secretary
of Transportation [and] the Director of the Office of
Management And Budget

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. chapter 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 from 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.

THE WHITE HOUSE,

WASHINGTON, November 25, 2008.