Uncompensated Insured Losses 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], uncompensated insured losses means “the aggregate amount of insured losses, from Program Trigger Events, of all insurers in a Program Year that is not compensated by the Federal Government because such losses:
(1) Are within the insurer deductibles of insurers, or
(2) Are within the portions of losses in excess of insurer deductibles that are not compensated through payments made as a result of claims for the Federal share of compensation.”
