Sec. 105. Availability of coverage
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/bill/113/hr/4871/rh/section-105·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(c)of section 103 ( 15 U.S.C. 6701 note) is amended to read as follows: Except as provided in paragraph (2), during each Program Year, each entity that meets the definition of an insurer under section 102 shall make available— in all of its property and casualty insurance policies, coverage for insured losses; and property and casualty insurance coverage for insured losses that does not differ materially from the terms, amounts, and other coverage limitations applicable to losses arising from events other than acts of terrorism. The Secretary shall provide, by regulation and in consultation with State insurance regulatory authorities, that paragraph
(1)shall not apply for a Program Year with respect to any small insurer (as such term is defined in such regulations by the Secretary) that, at the option of the insurer, makes a request for such inapplicability for such Program Year to the appropriate State insurance regulatory authority for the State in which such insurer is domiciled and is determined by such State insurance regulatory authority to meet such requirements for financial hardship or financial infeasibility of providing coverage for insured losses as the Secretary shall establish in such regulations. The insurer shall provide notice, in a manner satisfactory to the State insurance regulatory authority, informing affected prospective and current policyholders whether such coverage is not provided by the insurer. This paragraph may not be construed to require any State insurance regulatory authority to undertake making determinations under this paragraph. .
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Sec. 105
Availability of coverage
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