[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3973 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 3973
To provide temporary war risk insurance for certain commercial vessels
operating importing goods to, or exporting goods from, Ukraine.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 12, 2025
Mr. Keating (for himself, Mr. Quigley, and Mr. McGovern) introduced the
following bill; which was referred to the Committee on Foreign Affairs,
and in addition to the Committee on Transportation and Infrastructure,
for a period to be subsequently determined by the Speaker, in each case
for consideration of such provisions as fall within the jurisdiction of
the committee concerned
_______________________________________________________________________
A BILL
To provide temporary war risk insurance for certain commercial vessels
operating importing goods to, or exporting goods from, Ukraine.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Ukraine War Risk Insurance Act''.
SEC. 2. FINDING.
Congress finds that the transportation in the waterborne commerce
importing cargo to, or exporting cargo from, Ukraine is in the interest
of the national defense or national economy of the United States.
SEC. 3. WAR RISK INSURANCE ELIGIBILITY FOR CERTAIN COMMERCIAL VESSELS
OPERATING IN UKRAINE.
(a) Eligibility.--Notwithstanding section 53902 of title 46, United
States Code, for the period beginning on the date of enactment of this
Act, and ending 5 years after such date, a covered vessel shall be
deemed to be eligible for insurance or reinsurance under chapter 539 of
title 46, United States Code, if such vessel is engaged in
transportation in waterborne commerce importing cargo to, or exporting
cargo from, Ukraine.
(b) Expansion of Cargo.--Subparagraphs (B) through (D) of section
53903(a)(3) of title 46, United States Code, shall not apply to cargo
imported or exported to or from Ukraine.
(c) Definitions.--In this section:
(1) Covered vessel.--The term ``covered vessel'' means a
vessel that is owned by a citizen of--
(A) a member country of the North Atlantic Treaty
Organization;
(B) Ukraine; or
(C) any other country the Secretary of State, in
consultation with the Secretary of Transportation,
determines, in the interest of national security, shall
be considered eligible for insurance or reinsurance
under chapter 539 of title 46, United States Code.
(2) Owned by a citizen.--The term ``owned by a citizen''
means ownership by an entity that is considered to be a citizen
of a country in the same manner as an entity is deemed to be a
citizen of the United States under section 50501 of title 46,
United States Code.
SEC. 4. INSURANCE FOR UKRAINE INITIATIVE.
(a) Establishment.--There is established in the Department of State
an entity to be known as the Insurance for Ukraine Initiative.
(b) Objectives.--The objectives of the Insurance for Ukraine
Initiative are the following:
(1) Bolster confidence in Ukraine's eventual economic
recovery from Russia's full-scale invasion through the
provision of war risk insurance.
(2) Encourage European allies and partners to finance and
invest in Ukraine's economic recovery, including through the
provision of war risk insurance.
(3) Promote closer economic integration between Ukraine and
other countries in Europe as well as the United States and
further Ukraine's accession to the European Union.
(4) Coordinate dialogue and fora for extensive outreach
with private sector insurance companies relating to the
provision of war risk insurance to Ukraine.
(5) Work with Ukraine, international organizations, and
Middle Eastern and African allies and partners to ensure the
bountiful and affordable shipment of grain and other food
commodities from Ukraine.
(c) Report.--Not later than 1 year after the date of the enactment
of this Act, and annually thereafter for the following 3 years, the
Secretary of State shall submit to the appropriate congressional
committees a report that includes assessments of--
(1) progress towards the achievement of each of the
objectives set forth in subsection (b); and
(2) legislative proposals that would further the objectives
set forth in subsection (b); and
(d) Definition.--In this section, the term ``appropriate
congressional committees'' means--
(1) the Committee on Foreign Affairs of the House of
Representatives; and
(2) the Committee on Foreign Relations of the Senate.
SEC. 5. DIPLOMATIC AND POLITICAL SUPPORT.
The Secretary of State, in coordination with the heads of other
relevant Federal departments and agencies, shall seek to provide
diplomatic and political support to countries that provide or provide
support for war risk insurance for Ukraine, including by using the
diplomatic and political influence and expertise of the Department of
State to build the capacity of such countries.
SEC. 6. VOICE, VOTE, AND INFLUENCE OF THE UNITED STATES AT THE U.N.
FOOD AND AGRICULTURE ORGANIZATION.
The Secretary of State shall direct the United States
Representative to the Food and Agriculture Organization of the United
Nations to use the voice, vote, and influence of the United States at
such Organization to seek to develop a multilateral insurance mechanism
to protect the shipment of grain and other commodities from Ukraine.
<all>