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losses from acts of terrorism under this para-
graph. 
‘‘(E) FEDERAL COURT JURISDICTION AND 
VENUE IN CASES OF NO FEDERAL COMPENSA-
TION.—In the case of any act of terrorism with 
respect to which there has not been enacted a 
joint resolution for payment of Federal com-
pensation described in subsection (h)(2)— 
‘‘(i) all claims relating to or arising 
out of an insurer’s financial responsibility 
for insured losses from such act of ter-
rorism shall be within the original and ex-
clusive jurisdiction of the district courts of 
the United States, in accordance with the 
procedures established in clause (iii); 
‘‘(ii) all pending State court actions 
that relate to or arise out of an insurer’s 
financial responsibility for insured losses 
from such act of terrorism shall be re-
moved to a district court of the United 
States in accordance with clause (iii); and 
‘‘(iii) not later than 90 days after the 
Secretary’s certification of such act of ter-
rorism, the Judicial Panel on Multidistrict 
Litigation shall designate one district court 
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or, if necessary, multiple district courts of 
the United States that shall have original 
and exclusive jurisdiction over all actions 
for any claim relating to or arising out of 
an insurer’s financial responsibility for in-
sured losses from such act of terrorism. 
‘‘(4) NOTICES
REGARDING
LOSSES
AND
AN-
NUAL LIABILITY CAP.— 
‘‘(A) APPROACHING CAP.—If the Secretary 
determines estimated or actual aggregate Fed-
eral compensation to be paid pursuant to para-
graph (1) equals or exceeds $80,000,000,000 
during any Program Year, the Secretary shall 
promptly provide notification in accordance with 
subparagraph (D)— 
‘‘(i) of such estimated or actual aggre-
gate Federal compensation to be paid; 
‘‘(ii) of the likelihood that such aggre-
gate Federal compensation to be paid for 
such Program Year will equal or exceed 
$100,000,000,000; and 
‘‘(iii) that, pursuant to paragraph 
(2)(A)(ii), insurers are not required to 
make payments of excess insured losses. 
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‘‘(B) EVENT LIKELY TO CAUSE LOSSES TO 
EXCEED CAP.—If any act of terrorism occurs 
that the Secretary determines is likely to cause 
estimated or actual aggregate Federal com-
pensation to be paid pursuant to paragraph (1) 
to exceed $100,000,000,000 during any Pro-
gram Year, the Secretary shall, not later than 
10 days after such act, provide notification in 
accordance with subparagraph (D)— 
‘‘(i) of such estimated or actual aggre-
gate Federal compensation to be paid; and 
‘‘(ii) that, pursuant to paragraph 
(2)(A)(ii), insurers are not required to 
make payments for excess insured losses. 
‘‘(C) EXCEEDING CAP.—If the Secretary 
determines estimated or actual aggregate Fed-
eral compensation to be paid pursuant to para-
graph (1) equals or exceeds $100,000,000,000 
during any Program Year— 
‘‘(i) the Secretary shall promptly pro-
vide notification in accordance with sub-
paragraph (D)— 
‘‘(I) of such estimated or actual 
aggregate Federal compensation to be 
paid; and 
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‘‘(II) that, pursuant to paragraph 
(2)(A)(ii), insurers are not required to 
make payments for excess insured 
losses unless the Congress provides 
for payments for excess insured losses 
pursuant to clause (ii) of this sub-
paragraph; and 
‘‘(ii) the Congress shall determine the 
procedures for and the source of any pay-
ments for such excess insured losses. 
‘‘(D) PARTIES NOTIFIED.—Notification is 
provided in accordance with this subparagraph 
only if notification is provided— 
‘‘(i) to the Congress, in writing; and 
‘‘(ii) to insurers, by causing such no-
tice to be published in the Federal Reg-
ister. 
‘‘(E) DETERMINATIONS.—The Secretary 
shall make determinations regarding estimated 
and actual aggregate Federal compensation to 
be paid promptly after any act of terrorism as 
may be necessary to comply with this para-
graph. 
‘‘(F) MANDATORY
DISCLOSURE
FOR
IN-
SURANCE CONTRACTS.—All policies for property 
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and casualty insurance and group life insurance 
shall be deemed to contain a provision to the ef-
fect that, in the case of any act of terrorism 
with respect to which there has been enacted a 
joint resolution for payment of Federal com-
pensation described in subsection (h)(2), no in-
surer that has met its applicable insurer de-
ductible and its applicable share of insured 
losses that exceed its applicable insurer deduct-
ible but are not compensated pursuant to para-
graph (1), shall be obligated to pay for any por-
tion of excess insured loss. Notwithstanding the 
preceding sentence, insurers shall include a dis-
closure in their policies detailing the maximum 
level of Government assistance and the applica-
ble insurer share. All policies for property and 
casualty insurance and group life insurance 
shall be deemed to contain, and insurers shall 
be permitted to include in their policies, a pro-
vision to the effect that, in the case of insured 
losses resulting from any act of terrorism with 
respect to which there has not been enacted a 
joint resolution for payment of Federal com-
pensation described in subsection (h)(2), no in-
surer shall be obligated to pay for any portion 
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of any such insured losses that exceeds its ap-
plicable insurer deductible. 
‘‘(5) FINAL
NETTING.—The Secretary shall 
have sole discretion to determine the time at which 
claims relating to any insured loss or act of ter-
rorism shall become final. 
‘‘(6) DETERMINATIONS
FINAL.—Any deter-
mination of the Secretary under this subsection shall 
be final, unless expressly provided, and shall not be 
subject to judicial review. 
‘‘(7) INSURANCE
MARKETPLACE
AGGREGATE 
RETENTION AMOUNT.—For purposes of paragraph 
(8), 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 in-
surers, of insured losses during such pe-
riod; 
‘‘(B) for Program Year 2, the lesser of— 
‘‘(i) $12,500,000,000; and 
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