Page:United States Statutes at Large Volume 116 Part 3.djvu/737

 PUBLIC LAW 107-297—NOV. 26, 2002 116 STAT. 2329 (i) the Secretary shall not make any payment under this title for any portion of the amount of such losses that exceeds $ 100,000,000,000; and (ii) no insurer that has met its insurer deductible shall be liable for the payment of any portion of that amount that exceeds $100,000,000,000. (B) INSURER SHARE.— For purposes of subparagraph (A), the Secretary shall determine the pro rata share of insured losses to be paid by each insurer that incurs insured losses under the Program. (3) NOTICE TO CONGRESS.— The Secretary shall notify the Congress if estimated or actual aggregate insured losses exceed $100,000,000,000 during the period beginning on the first day of the Transition Period and ending on the last day of Program Year 1, or during Program Year 2 or Program Year 3, and the Congress shall determine the procedures for and the source of any payments for such excess insured losses. (4) FINAL NETTING. — The Secretary shall have sole discretion to determine the time at which claims relating to any insured loss or act of terrorism shall become final. (5) DETERMINATIONS FINAL.— Any determination of the Secretary under this subsection shall be final, unless expressly provided, and shall not be subject to judicial review. (6) INSURANCE MARKETPLACE AGGREGATE RETENTION AMOUNT. —For purposes of paragraph (7), the insurance marketplace aggregate retention amount shall be— (A) for the period beginning on the first day of the Transition Period and ending on the last day of Program Year 1, the lesser of— (i) $10,000,000,000; and (ii) the aggregate amount, for all insurers, of insured losses during such period; (B) for Program Year 2, the lesser of— (i) $12,500,000,000; and (ii) the aggregate amount, for all insurers, of insured losses during such Program Year; and (C) for Program Year 3, the lesser of— (i) $15,000,000,000; and (ii) the aggregate amount, for all insurers, of insured losses during such Program Year. (7) RECOUPMENT OF FEDERAL SHARE.— (A) MANDATORY RECOUPMENT AMOUNT. —For purposes of this paragraph, the mandatory recoupment amount for each of the periods referred to in subparagraphs (A), (B), and (C) of paragraph (6) shall be the difference between— (i) the insurance marketplace aggregate retention amount under paragraph (6) for such period; and (ii) the aggregate amount, for all insurers, of insured losses during such period that are not compensated by the Federal (Government because such losses— (I) are within the insurer deductible for the insurer subject to the losses; or (II) are within the portion of losses of the insurer that exceed the insurer deductible, but are not compensated pursuant to paragraph (1). 99-194O-03 -24:QL3Part3

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