H.R. 4762 · 118th Congress
To amend title 49, United States Code, to extend the non-premium war risk insurance program.
- Stage
- Reported from committee
- Sponsor
- Rudy Yakym
- Introduced
- 2023-07-20
- Latest action
- 2023-09-13 · Reported by the Committee on Transportation and Infrastructure. H. Rept. 118-194.
Summary
This bill extends the Federal Aviation Administration (FAA) Non-premium War Risk Insurance Program through FY2025.
This program provides aviation insurance without a premium to eligible air carriers at the request of the Department of Defense or another federal agency, provided that the agency agrees to indemnify the FAA from all losses covered under the insurance. Eligible air carriers include those whose operations are under a federal contract and are necessary for national security or to carry out U.S. foreign policy.