To amend title 49, United States Code, to extend the aviation war risk insurance program.

Amends federal transportation law to authorize through December 31, 2011, the extension of the Secretary of Transportation's authority to: (1) issue war risk insurance policies to air carriers; and (2) certify that an air carrier is a victim of an act of terrorism and not liable for losses suffered by third parties that exceed $100 million, as well as immunity from punitive damages (with the federal government responsible for any liability above $100 million).