National Product Liability Insurance Act

[AI summary unavailable — showing source text] National Product Liability Insurance Act - Title I: General Provisions - Declares the policy and purpose of this Act. Title II: National Product Liability Insurance Administration - Establishes as an independent instrumentality in the executive branch a National Product Liability Insurance Administration to administer a joint underwriting authority to provide product liability reinsurance to manufacturers, to issue Federal charters to captive insurance companies, and to review the National Product Liability Arbitration Program as well as State arbitration programs. Places the Administration under the general direction and supervision of a Board of Directors composed of specified Federal officers and nongovernment individuals appointed by the President, under the general supervision of an Administrator appointed by the President. Title III: National Product Liability Insurance Pool - Authorizes the Administrator to offer any insurer or pool reinsurance against losses resulting from product liability claims, and to enter into such contract for reinsurance coverage in consideration of premiums deemed adequate by the Administrator. Limits reimbursement of an insurer or pool, reinsured …