Section 44302a - Temporary insurance(a) IN GENERAL.-The Secretary may provide insurance or reinsurance under this section to or for an air carrier for 1 coverage period not to exceed 90 days. Except as otherwise provided in this section, such insurance or reinsurance shall be subject to the requirements of this chapter.(b) RESTRICTIONS.-A policy for insurance or reinsurance issued under this section-(1) may not be issued unless the insurance carrier of the air carrier has unilaterally terminated the air carrier's war risk liability coverage pursuant to-(A) notice under the policy;(B) an endorsement to the policy; or(C) an automatic termination provision in the policy or any endorsement thereto; and(2) may cover hull, comprehensive, and third party liability risks.(c) PREMIUM.-A premium for insurance or reinsurance provided under this section shall be calculated based on a prorated amount equivalent to the premium that was in effect under the terminated insurance carrier policy.(d) APPROVAL.-A policy for insurance or reinsurance provided under this section-(1) shall be exempt from the requirements of section 44302(c); and(2) may provide coverage to the extent allowed under section 44303, as determined by the Secretary, notwithstanding any determination by the President in subsection (a)(1) of such section.Added Pub. L. 117-328, div. Q, §103(a), Dec. 29, 2022, 136 Stat. 5252. - insurance carrier
- "insurance carrier" means a person authorized to do aviation insurance business in a State, including a mutual or stock insurance company and a reciprocal insurance association.