Section 198.1 - Eligibility of aircraft operation for insuranceAn aircraft operation is eligible for insurance if-
(a) The President of the United States has determined that the continuation of that aircraft operation is necessary to carry out the foreign policy of the United States;(b) The aircraft operation is- (1) In foreign air commerce or between two or more places all of which are outside the United States if insurance with premium is sought; or(2) In domestic or foreign air commerce, or between two or more places all of which are outside the United States if insurance without premium is sought; and(c) The Administrator finds that commercial insurance against loss or damage arising out of any risk from the aircraft operation cannot be obtained on reasonable terms from an insurance carrier.