Page:United States Statutes at Large Volume 84 Part 2.djvu/459

 84 STAT. ]

PUBLIC LAW 91-609-DEC. 31, 1970

"(3) 'directly insured losses' means losses on direct insurance claims and all direct expenses incurred in connection therewith, including but not limited to expenses for processing, verifying, and paying such losses;". (c) Section 1221(a)(2) of such Act is amended by striking out "section 1203(a) (10)" each place it appears and inserting in lieu thereof "section 1203(a) (13)". (d) Title X II of such Act is amended by redesignating part C and sections 1231 through 1241 as part D and sections 1241 through 1251, respectively, and by inserting after part B the following new part:

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12 USC 1749bbb-

12 USC 1749bbb-

" P A R T C — FEDERAL iNSURi'iNCE A G A I N S T BURGLARY AND THE F T "REVIEW A N D PROGRAM AUTHORITY

"SEC, 1231. (a) The Secretary shall conduct a continuing review of the market availability situation in each of the several States to determine whether crime insurance is available at affordable rates either through the normal insurance market or through a suitable program adopted under State law\ "(b) Upon determining pursuant to subsection (a) that, at any time on or after August 1, 1971, a critical market unavailability situation for crime insurance then exists in any State and has not been met through appropriate State action, the Secretary is authorized to make crime insurance available at affordable rates within such State through the facilities of the Federal Government. Such insurance shall be provided upon such terms and conditions, and subject to such deductibles and other restrictions and limitations, as the Secretary deems appropriate, but no such insurance shall be made available to a property which the Secretary determines to be uninsurable or to a property with respect to which reasonable protective measures to prevent loss, consistent with standards established by the Secretary, have not been adopted. " (c) Notwithstanding any other provision of this title, direct insurance may be continued for the term of the policies written prior to the date of termination of the Secretary's direct insurance authority under this part, for as long as the insured pays the required direct insurance premiums; except that direct insurance under this part for any risk shall be terminated after notice whenever the Secretary determines that the standard lines of crime insurance otherwise have become available to such property at affordable rates. "USE or EXISTING FACILITIES AND SERVICES

"SEC. 1232. I n carrying out his responsibilities under this part, the Secretary may utilize— "(1) insurance companies and other insurers, insurance agents and brokers, and insurance adjustment organizations, as fiscal agents of the United States, "(2) officers and employees of the Department of Housing and Urban Development, and such other officers and employees of any executive agency (as defined in section 105 of title 5 of the United States Code) as the Secretary and the head of any such ^° s^^'- ^79. agency may from time to time agree upon, on a reimbursement or other basis, or "(3) both the alternatives specified in paragraphs (1) and (2), or any combination thereof.

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