War Risk Insurance Extension, Hearing Before the Subcommittee on Transportation and Aeronautics of the Committee on Interstate and Foreign Commerce, House of Representatives, Ninety-First Congress, Second Session, June 1, 1970 [open pdf - 10MB]
This is the June 1, 1970 hearing on "War Risk Insurance Extension," held before the House Subcommittee on Transportation and Aeronautics of the Committee on Interstate and Foreign Commerce. From the opening statement of Samuel N. Friedel: "Today we will receive testimony from the Department of Transportation on H.R. 17133, H.R. 17539, and 17574, that will extend for 5 years the important program of Aviation War Risk Insurance under title XIII of the Federal Aviation Act of 1958. This program was first sanctioned by the Congress in 1951, at a time when it was becoming obvious that U.S. involvement around the world would expose American air carriers to increasing risk of loss through war, hostilities or other forms of deliberate violence. The Committee on Interstate and Foreign Commerce examined the issue at that time and concluded that reliance could not be placed on insurance to cover such potential losses. If U.S. air carriers were to be protected, it was felt that some special form of Government insurance should be made available on a standby basis. Without such protection the American carriers would not be able to offer service under diverse conditions in many parts of the world, thus detracting from U.S. international interests and harming our economic trade. It was these considerations that lead to the enactment of the war risk guarantee program and that explains its subsequent extensions." Statements, letters, and materials submitted for the record include those of the following: Richard J. Barber, Neil Eisner, and Stuart G. Tipton.
Serial No. 91-54