§ 50.10 - General disclosure requirements.

§ 50.10 General disclosure requirements.

(a) All policiesContent of disclosure. As a condition for federal 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 Federal share of compensation for insured losses under the Program.

(b) Policies in force on the date of enactment. For policies issued before November 26, 2002, the disclosure required by the Act must be provided within 90 days of November 26, 2002 (no later than February 24, 2003).

(c) Policies issued within 90 days of the date of enactment. For policies issued within the 90-day period beginning on November 26, 2002 through February 24, 2003, the

Form and timing of disclosure. The disclosure required by the Act must be

provided at the time of offer, purchase, and renewal of the policy. (d) Policies issued more than 90 days after the date of enactment. For policies issued on or after February 25, 2003, the disclosure required by the Act must be

made on a separate line item in the policy, at the time of offer

, purchase,

and of renewal of the policy.

For policies issued in late 2005 with coverage extending into 2006, see § 50.12(e)(2).

[68 FR 19306, Apr. 18, 2003, as amended at 71 FR 27570, May 11, 2006]