Insurance Marketplace Aggregate Retention Amount Law and Legal Definition

According to 31 CFR 50.5 [Title 31 -- Money and Finance: Treasury; Subtitle A -- Office of the Secretary of the Treasury; Part 50 -- Terrorism Risk Insurance Program; Subpart A -- General Provisions], insurance marketplace aggregate retention amount means “an amount for a Program Year as set forth in section 103(e)(6) of the Act. For any Program Year beginning with 2008 through 2014, such amount is the lesser of $ 27,500,000,000 and the aggregate amount, for all insurers, of insured losses from Program Trigger Events during the Program Year.”