(a) Content of disclosure. As a condition for Federal payments under section 103(b) of the Act, the Act requires that an insurer provide clear and conspicuous disclosure to the policyholder of:
(1) The premium charged for insured losses covered by the Program; and
(2) The Federal share of compensation for insured losses under the Program.
(b) Form and timing of disclosure. The disclosure required by the Act must be made on a separate line item in the policy, at the time of offer and of renewal of the policy.
authority: 5 U.S.C. 301;
31 U.S.C. 321; Title I, Pub. L. 107-297, 116 Stat. 2322, as amended by Pub. L. 109-144, 119 Stat. 2660, Pub. L. 110-160, 121 Stat. 1839, Pub. L. 114-1, 129 Stat. 3, and Pub. L. 116-94, 133 Stat. 2534 (
15 U.S.C. 6701 note); Pub. L. 114-74, 129 Stat. 601, Title VII (
28 U.S.C. 2461 note)
source: 81 FR 93765, Dec. 21, 2016, unless otherwise noted.
cite as: 31 CFR 50.10