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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 46 - Shipping |
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Chapter II - Maritime Administration, Department of Transportation |
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SubChapter I-A - National Shipping Authority |
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Part 326 - Marine Protection and Indemnity Insurance Under Agreements With Agents |
§ 326.2 - Insurer.
Latest version.
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§ 326.2 Insurer.
MARAD shall be responsible for providing or obtaining P&I insurance for all vessels assigned to Agents under an Agreement. At its election, MARAD may be a self-insurer of any one or more vessels covered by the Agreement, or may obtain P&I insurance coverage under one or more policies written by underwriters of marine insurance. MARAD shall determine the amount of coverage to be provided or obtained.