; (ii) the entity controls in any manner the election of a majority of the directors or trustees of the other entity; or (iii) the Secretary determines, after notice and opportunity for hearing, that the entity directly or indirectly exercises a controlling influence over the management or policies of the other entity. (B) Rule of construction An entity, including any affiliate thereof, does not have control over another entity, if, as of January 1, 2024, the entity is acting as an attorney-in-fact, as defined by the Secretary, for the other entity and such other entity is a reciprocal insurer, provided that the entity is not, for reasons other than the attorney-in-fact relationship, defined as having control under subparagraph (A). (3) Covered event (A) In general The term covered event means volcanic eruption, severe storm, tropical storm, hurricane, earthquake, tsunami, fire, tornado, hail, or any other natural disaster not eligible for coverage under the National Flood Insurance Program under the National Flood Insurance Act of 1968 ( 42 U.S.C. 4001 et seq. ), that is certified by the Secretary as a covered event for purposes of this Act. (B) Nondelegation The Secretary may not delegate or designate to any other officer, employee, or person, any certification under subparagraph (A) of whether, during the effective period of the Program, a covered event occurs. (4) Covered insurance The term covered insurance means property and casualty insurance coverage for a single-family or multifamily residence, including homeowners insurance, condominium insurance, cooperative insurance, and residential rental insurance. Such term does not include private mortgage insurance (as such term is defined in section 2 of the Homeowners Protection Act of 1998 ( 12 U.S.C. 4901 )) or title insurance. (5) Insured loss (A) In general The term insured loss means any loss that— (i) results from a covered event; (ii) is covered by covered insurance issued by an insurer, regardless of whether the insurer is solvent