Each insurer shall submit to Treasury a Notice on a form prescribed by Treasury whenever
the insurer's aggregate insured losses (including reserves for “incurred but not reported”
losses) within a calendar year exceed an amount equal to 50 percent of the insurer's
deductible as specified in § 50.4(p). Insurers are advised that the form for the Notice of Deductible Erosion will include
an initial estimate of aggregate insured losses for the calendar year, the amount
of the insurer deductible, and an estimate of the Federal share of compensation for
the insurer's aggregate insured losses. In the case of an affiliated group of insurers, the Notice will include the name
and address of a single designated insurer within the affiliated group that will serve
as the single point of contact for the purpose of providing loss and compliance certifications
as required in § 50.73 and for receiving, disbursing, and distributing payments of the Federal share of
compensation in accordance with § 50.74. An insurer, at its option, may elect to include with its Notice of Deductible Erosion
the certification of direct earned premium required by § 50.73(b)(3).
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