46 CFR Ch. II (10–1–18 Edition)

§ 308.502 46 CFR Ch. II (10–1–18 Edition)

(d) Imported to, or exported from, the an underwriting agent upon applica- United States, its Territories or posses- tion. sions, under contracts of sale or purchase by the terms of which the risk of § 308.504 Definition of territories and loss by war risks or the obligation to possessions. provide insurance against such risks is Whenever reference is made to the assumed by or falls upon a citizen or territories and possessions of the resident of the United States, its Terri- United States in this subpart or in any tories or possessions; supplement thereto or any policy of in- (e) Sold or purchased by citizens or surance issued pursuant to the provi- residents of the United States, its Ter- sions thereof, said territories and pos- ritories or possessions, under contracts sessions shall be deemed to include of sale or purchase by the terms of only the Virgin Islands of the United which the risk of loss by war risks or States, the Commonwealth of Puerto the obligation to provide insurance Rico, American Samoa, Common- against such risks is assumed by or wealth of the Northern Mariana Is- falls upon a citizen or resident of the lands, Guam, Wake Island, Midway Is- United States, its Territories or posses- lands, Baker Island, Howland Island, sions; Jarvis Island, Johnston Atoll, Kingman (f) Shipped between ports in the Reef, Navassa Island, and Wake Island. United States, or between ports in the OPEN POLICY WAR RISK CARGO United States and its Territories and INSURANCE possessions, or between ports in such Territories or possessions; and § 308.505 General. (g) Shipped or to be shipped on any The Maritime Administrator is pre- foreign flag vessels, whether or not pared to provide an open cargo war risk owned by citizens of the United States, insurance policy covering any cargoes if such vessels are engaged in transpor- described in § 308.501. The policy will be tation in the water-borne commerce of in the standard form of War Risk Open the United States or in such other Cargo Policy, Form MA–300, prescribed transportation by water or such other in § 308.517. All policies will be issued services as may be deemed by the Mari- by underwriting agents appointed by time Administrator to be in the inter- the Maritime Administrator. All un- est of the national defense or the na- derwriting agents will be domestic in- tional economy of the United States, surance companies authorized to do a when so engaged. marine insurance business in a State of § 308.502 Additional insurance. the United States. The assured may place increased § 308.506 Application for an Open value or additional insurance in other Cargo Policy. markets beyond the amount of insur- Application for an Open Cargo Policy ance provided by the Maritime Admin- shall be made by filing Form MA–301, istrator, but such insurance must be prescribed in § 308.521, with the under- non-participating with the Maritime writing agent of MARAD. The applica- Administrator’s coverage, and without tion shall state the applicant’s name benefit of salvage or right of contribu- and address; the person or persons to tion. whom loss shall be payable; the nature and geographic scope of the shipments § 308.503 Rate schedules. to be covered under the policy which Rate schedules published by the Mar- shall not be broader than the coverage itime Administrator may be obtained authorized in § 308.501; the requested ef- from an underwriting agent. All rate fective date, which shall not be earlier schedules are subject to change by the than the date of the completion of the Maritime Administrator at any time requirements for the issuance of the without notice. If no rate is published policy; and the basis of valuation to be for a voyage on which war risk cov- incorporated in the policy. An appli- erage is available, the Maritime Ad- cant may specify one basis of valuation ministrator will name a rate through for imports and another for exports,

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