§928.370. Service-type insurance policies.
48 C.F.R. § 928.370
Service-type insurance policies are cost-reimbursement type contracts or subcontracts in which the insurer provides claim and loss adjustment services on a cost reimbursement basis, which satisfies state and Federal insurance requirements.
Service-type insurance policies may be used with contracting officer approval, when one or more of the following conditions are present—
Pure risk commercial insurance is not available or, if available, cost is not considered reasonable;
Inherent risks in the contract are new and a part of the process of commercialization;
The service-type insurance is needed to implement jointly funded projects; or
The service-type insurance arrangement is considered in the Government's best interest.
Notes, amendments, and revision history
Amendments
[61 FR 41708, Aug. 9, 1996, as amended at 74 FR 36366, July 22, 2009]
Authority
Authority: 42 U.S.C. 7101 et seq. and 50 U.S.C. 2401 et seq.
Source
Source: 49 FR 12010, Mar. 28, 1984, unless otherwise noted.
Amendments
[61 FR 41708, Aug. 9, 1996, as amended at 74 FR 36366, July 22, 2009]