Chapter 145. To amend the war-risk insurance Act
888 words·~4 min read·
/statutes-at-large/vol-40/chapter-145-3755677·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 145.— An Act To amend the war-risk insurance Act.July 11, 1918.[[H. R. 7138](/us/bill/65/hr/11048).][[Public, No. 195](/us/pub/65/195).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the war-risk insurance War Risk Insurance Act.New section.Ante, p. 103, amended.Marine and seamen’s Insurance.Vessels of friendly flags, etc., insurable by Bureau.Conditions.Act is hereby amended by adding to such Act a new section, to be known as section two b, to read as follows:
" “Sec. 2b. That when it appears to the Secretary of the Treasury that vessels of foreign friendly flags, or their masters, officers, or crews, or shippers or importers in such vessels, are unable in any trade to secure adequate war-risk insurance on reasonable terms, the Bureau of War Risk Insurance, with the approval of the Secretary, is hereby authorized to make provisions for the insurance by the United States of
(1)such vessels of foreign friendly flags, their freight and passage moneys, and personal effects of the masters, officers, and crews thereof against the risks of war when such vessels are chartered or operated by the United States Shipping Board or898its agent, or chartered by any person a citizen of the United States, and
(2)the cargoes to be shipped in such vessels of foreign friendly Restrictions.flags, whether or not they are so chartered. Such insurance on the vessel, however, is authorized only when the United States Shipping Board or its agent operates the vessel or the charterers are, by the terms of the charter party or contract with the vessel owners, required to assume the war risk or provide insurance protecting the vessel owners against war risk during the term of the charter or hire of the vessel. Insurance against loss of life, injury, etc., of crew.“The Bureau of War Risk Insurance, with the approval of the Secretary of the Treasury, is also hereby authorized to insure the masters, officers, and crews of vessels operated or chartered as afore said against the loss of life or personal injury by the risk of war and Compensation during capture.for compensation during the detention following capture by enemies of the United States, whenever it appears to the Secretary that the owners, operators, or charterers of such vessels are unable, in any trade, to secure such insurance on reasonable terms.” " Sec. 2. *Ante*, p.104, amended. That section five of the war-risk insurance Act is hereby amended to read as follows: " “Sec. 5. Advisory board established.Duties. That the Secretary of the Treasury is authorized to establish an advisory board, to consist of three members skilled in the practices of war-risk insurance, for the purpose of assisting the Bureau of War Risk Insurance in fixing rates of premium and in adjustment of claims for losses, and generally in carrying out the Compensation.purposes of this Act ; the compensation of the members of said board to be determined by the Secretary of the Treasury, but not to exceed Additional members for death, etc., claims.$20 a day each while actually employed. He is likewise authorized to appoint two persons skilled in the practice of accident insurance for the purpose of assisting the Bureau of War Risk Insurance in the adjustment of claims for death, personal injury, or detention; the compensation of persons so appointed to be determined by the Secretary of the Treasury, but not to exceed $20 a day each while Determination of dis agreements by admiralty courts.actually employed. In the event of disagreement as to the claim for losses, or amount thereof, between the said bureau and the parties to such contract of insurance, an action on the claim may be brought against the United States in the district court of the United States, sitting in admiralty, in the district in which the claimant or his agents Compromises allowed.may reside. The Secretary of the Treasury is, in his judgment, authorized to compromise the claim either before or after the institution of an action therein.” " Sec. 3. *Ante*, p. 105, amended. That section nine of the war-risk insurance Act is hereby amended to read as follows: " “Sec. 9. Suspension of Act when necessity ceases. That the President is authorized whenever in his judgment the necessity of further war insurance by the United States shall have ceased to exist to suspend the operation of this Act, in so far as the Division of Marine and Seamen’s Insurance is concerned, which suspension shall be made in any event within six months after Outstanding claims not affected.Continuance of Division.the end of the war, but shall not affect any insurance outstanding at the time or any claims pending adjustment. For the purpose of the final adjustment of any such outstanding insurance or claims, the Division of Marine and Seamen’s Insurance may, in the discretion of the President, be continued in existence for a period not exceeding three years after such suspension. Date of “end of the war” construed.“The words ‘end of the war’ as used herein shall be deemed to mean the date of proclamation of exchange of ratification of the treaty of peace, unless the President shall, by proclamation, declare a prior date, in which case the date so proclaimed shall be deemed to be the ‘ end of the war ’ within the meaning of this Act.” " Approved, July 11, 1918.