; and (II) in which, with respect to an insurance year, the loss ratio for eligible contracts is greater than 120 percent of the total net book premium written by all approved insurance providers. (ii) Eligible contracts The term eligible contract — (I) means a crop insurance contract entered into by an approved insurance provider in an eligible State; and (II) does not include a contract for— (aa) catastrophic risk protection under subsection (b); (bb) an area-based plan of insurance or similar plan of insurance, as determined by the Corporation