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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 46 U.S.C. § 53907 | Reinsurance | us | united_states_code | code_section | 46 | SHIPPING | 539 | WAR RISK INSURANCE | 53907 | 46 U.S.C. § 53907 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip | /us/usc/t46/s53907 | data/legal/raw/us/code/title-46/usc46.xml | ebef9251c9b4cd2abdc7e155e95167adc1be2d51d3f5b491b97a7135ce72e358 | eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f | ee9a8da5bcc2565d7b2bd10a614821632ba1385bad305057d6f072c968150e70 | 2026-07-04 | official |
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46 U.S.C. § 53907 - Reinsurance
Text
(a) In General.— To the extent the Secretary of Transportation is authorized to provide insurance under this chapter, the Secretary may provide reinsurance to a company authorized to do insurance business in a State of the United States. The Secretary may obtain reinsurance from such a company for any insurance provided by the Secretary under this chapter.
(b) Rates.— The Secretary may not provide reinsurance at rates less than, nor obtain reinsurance at rates more than, the rates established by the Secretary on the same or similar risks or the rates charged by the insurance company for the insurance reinsured, whichever is more advantageous to the Secretary. However, the Secretary may provide an allowance to the insurance company for the costs of services and facilities the company provides, in an amount the Secretary considers reasonable according to good business practice. The allowance to the company may not include any amount for soliciting or stimulating insurance business.
(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1629.)
Notes
Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 5390746 App.:1287.June 29, 1936, ch. 858, title XII, § 1207, as added Sept. 7, 1950, ch. 906, 64 Stat. 775. In subsection (a), the words “insurance under this chapter” are substituted for “marine, war risk, and liability insurance” for consistency in this chapter. The words “in whole or in part” are omitted as unnecessary. The words “obtain reinsurance from” are substituted for “reinsure with, or cede or retrocede to” for clarity and to eliminate unnecessary words.