Page:United States Statutes at Large Volume 108 Part 2.djvu/453

 PUBLIC LAW 103-272—JULY 5, 1994 108 STAT. 1169 §44303. Coverage The Secretary of Transportation may provide insurance and reinsurance authorized under section 44302 of this title for the following: (1) an American aircraft or foreign-flag aircraft engaged in aircraft operations the President decides are necessary to carry out the foreign policy of the United States Government, (2) property transported or to be transported on aircraft referred to in clause (1) of this section, including— (A) shipments by express or registered mail; (B) property owned by citizens or residents of the United States; (C) property— (i) imported to, or exported from, the United States; and (ii) bought or sold by a citizen or resident of the United States under a contract putting the risk of loss or obligation to provide insurance against risk of loss on the citizen or resident; and (D) property transported between— (i) a place in a State or the District of Columbia and a place in a territory or possession of the United States; (ii) a place in a territory or possession of the United States and a place in another territory or possession of the United States; or (iii) 2 places in the same territory or possession of the United States. (3) the personal effects and baggage of officers and members of the crew of an aircraft referred to in clause (1) of this section and of other individuals employed or transported on that aircraft. (4) officers and members of the crew of an aircraft referred to in clause (1) of this section and other individuals employed or transported on that aircraft against loss of life, injury, or detention. (5) statutory or contractual obligations or other liabilities, customarily covered by insurance, of an aircraft referred to in clause (1) of this section or of the owner or operator of that aircrsift. §44304. Reinsurance (a) GENERAL AUTHORITY. — To the extent the Secretary of Transportation is authorized to provide insurance under this chapter, the Secretary may reinsure any part of the insurance provided by an insurance carrier. The Secretary may reinsure with, transfer to, or transfer back to, the carrier any insurance or reinsurance provided by the Secretary under this chapter. (b) PREMIUM LEVELS. —The Secretary may provide reinsurance at premiums not less than, or obtain reinsurance at premiums not higher than, the premiums the Secretary establishes on similar risks or the premiums the insurance carrier charges for the insurance to be reinsured by the Secretary, whichever is most advantageous to the Secretary. However, the Secretary may make allowances to the insurance carrier for expenses incurred in providing services and facilities that the Secretary considers good business

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