United States Maritime Commission: Hearings Before the Subcommittee of House Committee on Appropriations in Charge of Deficiency Appropriations. Seventy-sixth Congress, Third Session. Marine and War-risk Insurance Fund, H.J.Res. 582 |
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Page 5
... figure ap- proximately two and one - half times the value of the largest vessel risk assumed . This basis would require that the Commission have a reserve fund for marine insurance of about $ 35,000,000 based on the underwriting of ...
... figure ap- proximately two and one - half times the value of the largest vessel risk assumed . This basis would require that the Commission have a reserve fund for marine insurance of about $ 35,000,000 based on the underwriting of ...
Page 7
... figure would be the maximum amount of cargo insured on one ship ? Admiral LAND . There is a very wide variation in that figure , from a minimum , say , of $ 500,000 to $ 1,000,000 up to a possible total of $ 50,000,000 . If you take the ...
... figure would be the maximum amount of cargo insured on one ship ? Admiral LAND . There is a very wide variation in that figure , from a minimum , say , of $ 500,000 to $ 1,000,000 up to a possible total of $ 50,000,000 . If you take the ...
Page 8
... figures . Mr. WOODRUM . You are speaking only of American vessels ? Mr. OGDEN . Yes ; the total amount insured would be pretty hard to estimate . We have some rough figures in the report showing that the total amount of insurance on ...
... figures . Mr. WOODRUM . You are speaking only of American vessels ? Mr. OGDEN . Yes ; the total amount insured would be pretty hard to estimate . We have some rough figures in the report showing that the total amount of insurance on ...
Page 11
... figure is based on ? Admiral LAND . We can give you that , but we have not the slightest idea how many there will be because we do not know what will happen . We want to have a nucleus . Mr. WOODRUM . You must have had some idea to ...
... figure is based on ? Admiral LAND . We can give you that , but we have not the slightest idea how many there will be because we do not know what will happen . We want to have a nucleus . Mr. WOODRUM . You must have had some idea to ...
Page 14
... figure , I should say , of six , seven , or eight billion dollars . Mr. LUDLOW . Would you place any of this insurance in foreign companies except Lloyd's ? Admiral LAND . Not unless they had some kind of trust fund . Mr. LUDLOW ...
... figure , I should say , of six , seven , or eight billion dollars . Mr. LUDLOW . Would you place any of this insurance in foreign companies except Lloyd's ? Admiral LAND . Not unless they had some kind of trust fund . Mr. LUDLOW ...
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Common terms and phrases
Admiral LAND amended American bottoms American commerce American insurance market American market American shipping ance approximately authorized to provide BUELL SNYDER Bureau capacity Cape Horn cargo insurance claims CLARENCE CANNON Commission is authorized COMMITTEE ON APPROPRIATIONS companies authorized conditions from companies cover crews of American EMMET O'NEAL expenses following capture foreign freight and passage going Government Hedge insurance business insurance protection JOHN TABER JOHNSON of West KIRSCH legislation Lloyds London market loss or damage LOUIS LUDLOW marine and war-risk marine insurance marine war risks Maritime Commission maximum Merchant Marine Act obtained on reasonable officers OGDEN personal injury personnel policies issued premiums rates reasonable terms reinsurance against loss reinsurance of marine reserve seamen's risk SEVENTY-SIXTH CONGRESS subtitle surance terms and conditions underwriters United States following vessels including vessels voyage war-risk insurance fund water-borne commerce West Virginia WIGGLESWORTH WILLIAM DITTER WOODRUM world insurance market
Popular passages
Page 15 - ... maintained against the United States in the district court of the United States sitting in admiralty in the district in which the claimant or his agent may reside...
Page 15 - ... whenever it appears to the Secretary that such insurance adequate for the needs of the waterborne commerce of the United States cannot be obtained on reasonable terms and conditions from companies authorized to do an insurance business in a State of the United States.
Page 20 - Secretary may reinsure, in whole or in part, any company authorized to do an insurance business in any State of the United States.
Page 15 - Government, and to pay the amount of any judgment rendered in respect of any suit or settlement agreed upon in respect of any claim. The determinations of the Commission with respect to adjustments, compromises, settlements, and payments hereunder shall not be subject to review by any other executive or accounting officer of the Government. "(b) The Commission is authorized to prescribe such forms and policies, to change or modify such forms and policies as may be necessary or appropriate under the...
Page 15 - Corporation, with the consent of any board, commission, independent establishment, or executive department of the Government, including any field service thereof, may avail itself of the use of information, services, facilities, officers, and employees thereof in carrying out the provisions of this Act.
Page 14 - CONGRESS OF THE UNITED STATES OF AMERICA; AT THE THIRD SESSION, BEGUN AND HELD AT THE CITY OF WASHINGTON ON WEDNESDAY, THE...
Page 15 - An Act authorizing suits against the United States in admiralty for damage caused by and salvage service rendered to public vessels belonging to the United States, and for other purposes", approved March 3, 1925 (46 USC 781-790), as implemented by section 7730 of title 10, United States Code.
Page 15 - Speaker of the House of Representatives, Vice President of the United States and President of the Senate.
Page 15 - Commission in the administration of this subtitle is authorized to adjust and pay losses, compromise and settle claims whether in favor of or against the Government, and to pay the amount of any judgment rendered in respect of any suit or settlement agreed upon in respect of any claim. The determinations of the Commission with respect to adjustments, compromises, settlements, and payments hereunder shall not be subject to review by any other executive or accounting officer of the Government.
Page 14 - ... (b) (1) Commercial vessels (including vessels under construction) owned or controlled by the United States or any department or agency thereof, (2) cargoes owned by the Government or in which the Government has an insurable interest, to the extent of such interest, (3) their disbursements, and freight and passage moneys, and (3) personal effects of the masters, officers and crews thereof.