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46 <br />1 paragraph (1)(B) shall be made available to every <br />2 insured upon renewal and every applicant for insur- <br />3 ante up to an amount of $2,400,000 for each struc- <br />4 ture and $2,400,000 for any contents related to each <br />5 structure; and". <br />6 (b) REMOVAL OF CEILING ON COVERAGE RE. <br />7 QUIRED.—Seetion 1306(b) of the National Flood Insur- <br />8 ance Act of 1968 (42 U.S.C. 4013(b)) is amended - <br />9 (1) in paragraph (5), by striking ` ; and" at the <br />10 end and inserting a period; <br />11 (2) by striking paragraph (6); and <br />12 (3) by adding at the end the following new <br />13 flush sentence: <br />14 "Upon determining that a property is a repetitive loss <br />15 structure, the Director shall charge the applicable risk <br />16 premium rate for flood insurance based on consideration <br />17 of the risk involved and accepted actuarial principles <br />18 under section 1307(a)(1).". <br />19 (c) CONFOR UNG A14IENDAfEws.—Section <br />20 1306(b)(5) of the National Flood Insurance Act of 1968 <br />21 (42 U.S.C. 4013(b)(5)) is amended - <br />22 (1) .by striking "(A), (B), --or (C)" and inserting <br />23 "(A) or (B)"; and <br />24 (2) by striking <br />.s 14M IS <br />