Transport i infrastruktura · 28/12/1994

War Risk Insurance Valuation

On May 7, 1991 the Maritime Administration (MARAD) issued an advance notice of proposed rulemaking (56 FR 21118) soliciting comments on proposed changes in MARAD's ship valuation methodology for issuing war risk insurance. After reviewing the comments received, including substantial comments from another Federal agency, MARAD determined that this rulemaking requires further consideration, and so stated in the Unified Agenda of Federal Regulations published on November 14, 1994 (59 FR 57997). In this regard, MARAD is considering requesting guidance from the Congress in legislation that will be proposed to extend the authority to issue war risk insurance, which expires on June 30, 1995. Accordingly, MARAD is withdrawing this rulemaking.