49 U.S.C. § 44308 — Administrative

(a) Commercial Practices — The Secretary of Transportation can carry out this chapter consistent with commercial practices of the aviation insurance business.
(b) Issuance of Policies and Disposition of Claims — (1) The Secretary can issue insurance policies to carry out this chapter. The Secretary can prescribe the forms, amounts insured under the policies, and premiums charged. Any the policy can authorize the binding arbitration of claims made under it in the manner as can be agreed to by the Secretary and any commercial insurer that can be responsible for any part of a loss to which the policy relates. The Secretary can change an amount of insurance or a premium for an existing policy only with the consent of the insured.
(2) For a claim under insurance authorized by this chapter, the Secretary may—
(A) settle and pay the claim made for or against the United States Government;
(B) pay the amount of a binding arbitration award made under paragraph (1); and
(C) pay the amount of a judgment entered against the Government.
(c) Underwriting Agent — (1) The Secretary may, and when practical must, employ an insurance carrier or group of insurance carriers to act as an underwriting agent. The Secretary can use the agent, or a claims adjuster who is independent of the underwriting agent, to adjust claims under this chapter, but claims can be paid only when approved by the Secretary.
(2) The Secretary can pay reasonable compensation to an underwriting agent for servicing insurance the agent writes for the Secretary. Compensation can include payment for reasonable expenses incurred by the agent but cannot include a payment by the agent for stimulation or solicitation of insurance business.
(3) Except as provided by this subsection, the Secretary cannot pay an insurance broker or other person acting in a similar capacity any consideration for arranging insurance when the Secretary directly insures any part of the risk.
(d) Budget — The Secretary must submit annually a budget program for carrying out this chapter as provided for wholly owned Government corporations under chapter 91 of title 31.
(e) Accounts — The Secretary must maintain a set of accounts for audit under chapter 35 of title 31. despite chapter 35, the Comptroller General must allow credit for expenditures under this chapter made consistent with commercial practices in the aviation insurance business when shown to be necessary because of the business activities authorized by this chapter.