Maritime War Risk Insurance
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.
General information about this opportunity
Last Known Status
Active
Program Number
20.803 Federal Agency/Office
Maritime Administration, Department of Transportation Type(s) of Assistance Offered
G - Insurance
Program Accomplishments
Fiscal Year 2023 Provides 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. Authorization
Merchant Marine Act of 1936, Public Law 110-417, 46 U.S.C. 539, Statute U.S.C, Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
All U.S. flag vessels, and certain foreign flag vessels meeting specific criteria as determined by the Maritime Administrator. Beneficiary Eligibility
Covered beneficiaries include vessel owners, third party liabilities, merchant mariners, and certain designated beneficiaries of deceased mariners. Credentials/Documentation
Applications, vessel data, unqualified contract of commitment, and other supporting data as required by 46 CFR Part 308. What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable. Application Procedure
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Complete and proper filing of applications, supporting documents, and payment of appropriate binding fees or promises as specified in 46 CFR Part 308. Award Procedure
Binders issued only to those applicants that qualify. Deadlines
Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
From 5 to 15 working days. Appeals
Not applicable. Renewals
Not applicable. How are proposals selected?
Not applicable. How may assistance be used?
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. What are the requirements after being awarded this opportunity?
Reporting
Not applicable. Auditing
Not applicable. Records
Not applicable in peacetime. Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Indeterminate; depends on war situation and posture of the country. Method of awarding/releasing assistance: Letter. Who do I contact about this opportunity?
Regional or Local Office
None/Not specified. Headquarters Office
Michael YarringtonOffice of Marine Insurance
1200 New Jersey Avenue, SE
Washington, District of Columbia 20590
United States
Washington, DC 20590 US
michael.yarrington@dot.gov
Phone: (202)366-1915
Website Address
http://www.dot.gov
Financial Information
Account Identification
69-4302-0-3-403 Obligations
(Insurance) FY 22$100,000.00; FY 23 est $100,000.00; FY 24 est $100,000.00; FY 21$0.00; FY 20$100,000.00; FY 19$100,000.00; FY 18$100,000.00; - Range and Average of Financial Assistance
Applicable only in designated combat areas, subject to terms of the binder. Regulations, Guidelines and Literature
Rules and Regulations are set forth under 46 CFR 308 (as published under authority of Public Law 101-115) and 309 as amended from time to time in the Federal Register. Examples of Funded Projects
Fiscal Year 2023 Provides 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.
