(a) In General.—
The Secretary may provide insurance or reinsurance under this section to or for an air carrier for 1 coverage period not to exceed 90 days. Except as otherwise provided in this section, such insurance or reinsurance shall be subject to the requirements of this chapter.
(b) Restrictions.—A policy for insurance or reinsurance issued under this section—
(1) may not be issued unless the insurance carrier of the air carrier has unilaterally terminated the air carrier’s war risk liability coverage pursuant to—
(c) Premium.—
A premium for insurance or reinsurance provided under this section shall be calculated based on a prorated amount equivalent to the premium that was in effect under the terminated insurance carrier policy.