MARAD SEEKS TO CONTINUE STUDYING WAR RISK INSURANCE
The U.S. Maritime Administration said it is seeking a three-year extension from the Office of Management and Budget to continue collecting information on war risk insurance.
MarAd said the collection of information is necessary to determine compliance with regulatory and contractual requirements by vessel owners acquiring ships on credit, companies chartering ships and companies having Title XI guarantee obligations.
Interested parties can comment directly to OMB on whether collecting information is necessary for proper performance of the functions of the U.S. Department of Transportation. Comments are due by Oct. 24. For more information, contact Joe Strassburg, Office of Insurance and Shipping Analysis, MarAd, (202) 366-4156.