; (2) limitations on the scope and amounts of coverage provided; (3) the establishment, under section 804, of appropriate annual premium charges; (4) appropriate loss deductibles; and (5) the methods by which proved and approved claims for losses shall be adjusted and paid. (b) Objectives In establishing the terms and conditions under this section, the Corporation shall ensure that the insurance program accomplishes the following objectives: (1) Recovery from disasters The amount of coverage provided under the program shall be sufficient to provide State participants with amounts adequate for recovery from disasters. (2) Equitable distribution of risks and costs The risks and costs of disasters shall be equitably distributed among the State participants. (3) Participation Participation in the program by all States shall be encouraged. (c) Assistance The terms and conditions of the insurance program shall be established in consultation with the Administrator of the Federal Emergency Management Agency, the Disaster Insurance Advisory Committee under section 826, and other relevant Federal agencies and shall be effective only if approved by the Administrator and the Advisory Committee. 803. Coverage (a) In general The insurance program shall provide insurance coverage under this subtitle for each participant in the Corporation. The initial coverage available under the program shall take effect on October 1, 2019. (b) Eligible insureds The insurance program may provide insurance coverage only to participants and each State shall be eligible to become a participant pursuant to the requirements of section 821(d). (c) Scope of coverage The insurance program may provide coverage only for the following losses and costs to a participant that arise from a disaster: (1) Lifesaving measures Costs of performing any work or services essential to saving lives and protecting and preserving property or public health and safety, including— (A) removing debris and wreckage