; and (B) a State residual market insurance entity that shares its profits and losses with private sector insurers shall not be treated as a separate insurer, and shall report to each private sector insurance participant its share of the insured losses of the entity, which shall be included in each private sector participating insurer's insured losses. (3) Treatment of participation in certain entities Any participating insurer that participates in sharing profits and losses of a State residual market insurance entity shall include in its calculations of premiums any premiums distributed to the participating insurer by the State residual market insurance entity. (e) Reinsurance for insured losses (1) Federal share of compensation (A) In general The Federal share of compensation under the Program to be paid by the Secretary for insured losses of an participating insurer during each calendar year shall be equal to 95 percent of that portion of the amount of such insured losses that exceeds the applicable insurer deductible required to be paid during such calendar year. (B) Program trigger In the case of a covered public health emergency commencing after the date on which the Secretary issues final regulations pursuant to paragraph (2)(B)(ii), no compensation shall be paid by the Secretary under subsection (a) unless the aggregate industry insured losses for participating insurers resulting from such covered public health emergency exceed $250,000,000. (C) Prohibition on duplicative compensation The Federal share of compensation for insured losses under the Program shall be reduced by the amount of compensation provided by the Federal Government to any person under any other Federal program for those insured losses. (2) Cap on annual liability (A) In general Notwithstanding paragraph (1) or any other provision of Federal or State law, if the aggregate insured losses exceed $750,000,000,000, during a calendar year— (i) the Secretary shall not make any payment under this Act for any portion of the amount of such