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The War Risk Insurance Act was a piece of legislation passed by the
History of US Government Involvement in Insurance
at the
The War Risk Insurance Act was a piece of legislation passed by the United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washing ...
in 1914 to ensure the availability of war risk insurance
War risk insurance is a type of insurance which covers damage due to acts of war, including invasion, insurrection, rebellion and Carjacking, hijacking. Some policies also cover damage due to weapons of mass destruction. It is most commonly used in ...
for shipping vessels and individuals during World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...
. It established a Bureau of War Risk Insurance within the Treasury Department to provide insurance policies and pay claims. In 1917, the War Risk Insurance Act of 1917 amended the insurance program to make life insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...
coverage available to sailors in the United States Merchant Marine
United States Merchant Marines are United States civilian mariners and U.S. civilian and federally owned merchant vessels. Both the civilian mariners and the merchant vessels are managed by a combination of the government and private sectors, an ...
.
Henry D. Lindsley served as director from December 1918 to August 1920. He was followed by R. A. Cholmeley-Jones.The Standard, May 24, 1919, p. 557.
1914 Act and Associated U.S. Congressional Amendments
Chronologicallegislation
Legislation is the process or result of enrolled bill, enrolling, enactment of a bill, enacting, or promulgation, promulgating laws by a legislature, parliament, or analogous Government, governing body. Before an item of legislation becomes law i ...
relative to the 1914 public law and legislative revisions as pertaining to the War Risk Insurance Act.
References
External links
History of US Government Involvement in Insurance
at the
United States Department of Veterans Affairs
The United States Department of Veterans Affairs (VA) is a Cabinet-level executive branch department of the federal government charged with providing life-long healthcare services to eligible military veterans at the 170 VA medical centers a ...
65th United States Congress
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