48 CFR 928.370
928.370 Service-type insurance policies.
United States · 48 CFR — Federal Acquisition Regulations System · Status: effective
Cite this
- Citation
- 48 CFR 928.370, 928.370 Service-type insurance policies, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/248135
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Full text
(a) 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.
(b) Service-type insurance policies may be used with contracting officer approval, when one or more of the following conditions are present—
(1) Pure risk commercial insurance is not available or, if available, cost is not considered reasonable;
(2) Inherent risks in the contract are new and a part of the process of commercialization;
(3) The service-type insurance is needed to implement jointly funded projects; or
(4) The service-type insurance arrangement is considered in the Government's best interest.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.