; or (2) the insured fails to pay any premium charged by the insurer for providing such coverage. 5. Study regarding establishment of Federal backstop The Federal Advisory Committee on Insurance established by the Secretary of the Treasury pursuant to section 313(h) of title 31, United States Code, shall conduct a study regarding the effectiveness and efficiency of using a Federal backstop mechanism, private equity pools, risk assessments, and market pricing to reinsure insurers for excessive losses under coverage made available pursuant to section 2 of this Act. The Committee shall submit to the Congress a report setting forth the findings of the study not later than the expiration of the 180-day period beginning on the date of the enactment of this Act. 6. Effective date Upon a determination that there is in effect a Federal backstop mechanism to reinsure insurers for excessive losses under coverage made available pursuant to section 2 of this Act, the Secretary of the Treasury shall issue a certification that such mechanism is in place, and cause such certification to be published in the Federal Register. 7. Definitions For purposes of this section, the following definitions shall apply: (1) Business interruption insurance coverage The term business interruption insurance coverage means property and casualty insurance coverage provided or made available for losses resulting from periods of suspended business operations, whether provided under broader coverage or separately. (2) Insurer The term insurer has the meaning given such term in section 102 of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 note). (3) National emergency The term national emergency means any— (A) emergency or disaster declared by the President pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5121 et seq.); or (B) public health emergency declared by the Secretary of Health and Human Services pursuant to section 319 of the Public Health Service Act ( 42 U.S.C. 247d ).