After the terrorist events of September 11, 2001, the FAA issued premium third party liability war risk insurance to U.S. air carriers. The Homeland Security Act of 2002 (HSA), Public Law 112-7 and subsequent legislation mandated the expansion of war risk insurance coverage to include hull loss and passenger liability and required continued provision of this insurance. This requirement expired as of December 15, 2014.
Status of FAA Premium War Risk Insurance
The Federal Aviation Administration (FAA) Aviation Insurance Program Office does not have an authorization to provide insurance products for a premium. The requirements of the Homeland Security Act of 2002 (as amended), which required the provision of war risk insurance policies to certain air operators has expired, and currently, aviation war risk insurance products are available in the commercial insurance markets.
The FAA is currently not extending any premium insurance products. In order to provide insurance products under chapter 443 for a premium, chapter 443, section 44310 (a) must be revised to allow for a future date.