[Federal Register Volume 79, Number 66 (Monday, April 7, 2014)]
[Notices]
[Pages 19047-19048]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-07616]
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DEPARTMENT OF AGRICULTURE
Federal Crop Insurance Corporation
[Docket No. FCIC-14-0003]
Notice of Request for Renewal and Revision of the Currently
Approved Information Collection
AGENCY: Federal Crop Insurance Corporation, USDA
ACTION: Renewal and Revision of the Currently Approved Information
Collection.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this
notice announces a public comment period on the information collection
requests (ICRs) associated with the Standard Reinsurance Agreement and
Appendices I, II and IV administered by Federal Crop Insurance
Corporation (FCIC). Appendix III is excluded because it contains the
Data Acceptance System requirements.
DATES: Written comments on this notice will be accepted until close of
business June 6, 2014.
ADDRESSES: FCIC prefers that comments be submitted electronically
through the Federal eRulemaking Portal. You may submit comments,
identified by Docket ID No. FCIC-14-0003, by any of the following
methods:
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
By Mail to: David L. Miller, Director, Reinsurance
Services Division, Federal Crop Insurance Corporation, United States
Department of Agriculture (USDA), 1400 Independence Avenue SW., Stop
0801, Washington, DC 20250.
All comments received, including those received by mail, will be posted
without change to http://www.regulations.gov, including any personal
information provided, and can be accessed by the public. All comments
must include the agency name and docket number or Regulatory
Information Number (RIN) for this rule. For detailed instructions on
submitting comments and additional information, see http://www.regulations.gov. If you are submitting comments electronically
through the Federal eRulemaking Portal and want to attach a document,
we ask that it be in a text-based format. If you want to attach a
document that is a scanned Adobe PDF file, it must be scanned as text
and not as an image, thus allowing FCIC to search and copy certain
portions of your submissions. For questions regarding attaching a
document that is a scanned Adobe PDF file, please contact the RMA Web
Content Team at (816) 823-4694 or by email at
[email protected].
Privacy Act: Anyone is able to search the electronic form of all
comments received for any dockets by the name of the individual
submitting the comment (or signing the comment, if submitted on behalf
of an association, business, labor union, etc.). You may review the
complete User Notice and Privacy Notice for Regulations.gov at http://www.regulations.gov/#!privacyNotice.
FOR FURTHER INFORMATION CONTACT: David L. Miller, Director, Risk
Management Agency, at the address listed above, telephone (202) 720-
9830.
SUPPLEMENTARY INFORMATION:
Title: Standard Reinsurance Agreement; Appendices I, II and IV.
OMB Number: 0563-0069.
Type of Request: Renewal of current Information Collection.
Abstract: The Federal Crop Insurance Act (Act), Title 7 U.S.C.
Chapter 36, Section 1508(k), authorizes the FCIC to provide reinsurance
to insurers approved by FCIC that insure producers of any agricultural
commodity under one or more plans acceptable to FCIC. The Act also
states that the reinsurance shall be provided on such terms and
conditions as the Board may determine to be consistent with subsections
(b) and (c) of this section and sound reinsurance principles.
FCIC executes the same form of reinsurance agreement, called the
Standard Reinsurance Agreement (SRA), with nineteen participating
insurers approved for the 2014 reinsurance year. Appendix I of the SRA,
Regulatory Duties and Responsibilities, sets forth the company's
responsibilities as required by statute. Appendix II of the SRA, the
Plan of Operations (Plan), sets forth the information the insurer is
required to file with RMA for each reinsurance year they wish to
participate. The Plan's information enables RMA to evaluate the
insurer's financial and operational capability to deliver the crop
insurance program in accordance with the Act. Estimated premiums by
fund by state, and retained percentages along with current
policyholders surplus are used in calculations to determine whether to
approve the insurer's requested maximum reinsurable premium volume for
the reinsurance year per 7 CFR 400 Subpart L. This information has a
direct effect upon the insurer's amount of retained premium and
associated liability and is required to calculate the insurer's
underwriting gain or loss.
Appendix IV of the SRA, Quality Control and Program Integrity,
establishes the minimum annual agent and loss adjuster training
requirements, and quality control review procedures and performance
standards required of the insurance companies. FCIC requires each
insurer to submit, for each reinsurance year, a Quality Control Report
to FCIC containing details of the results of their completed reviews.
The insurance companies must also provide an annual Training and
Performance Evaluation Report which details the evaluation of each
agent and loss adjuster and reports of any remedial actions taken by
the Company to correct any error or omission or ensure compliance with
the SRA. The submission of these reports is included in Appendix II.
FCIC is requesting the Office of Management and Budget (OMB) to
extend the approval of this information collection for an additional 3
years.
The purpose of this notice is to solicit comments from the public
concerning the continuation of the current information collection
activity as associated with the SRA in effect for the 2014 and
subsequent reinsurance years. These comments will help us:
(1) Evaluate whether the current collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information has practical utility;
(2) Evaluate the accuracy of the agency's estimate of the burden of
the current collection of information;
(3) Enhance the quality, utility, and clarity of the information
being collected; and
(4) Minimize the burden of the collection of information on those
who are to respond, through use, as appropriate, of automated,
electronic, mechanical, and other collection technologies, e.g.,
permitting electronic submission of responses.
[[Page 19048]]
Appendix I of the SRA includes Conflict of Interest data
collection, which in addition to the insurance companies reinsured by
FCIC, encompasses the insurance companies' employees and their
contracted agents and loss adjusters. Appendix I also includes a
Controlled Business data collection from all employed or contracted
agents. The estimate below shows the burden that will be placed upon
the following affected entities.
Estimate of Burden: The public reporting burden for the collection
of Appendix II information is estimated to average 173 hours per
response.
Respondents/Affected Entities: Insurance companies reinsured by
FCIC.
Estimated annual number of respondents: 19.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 19.
Estimated total annual burden on respondents (hours): 3,287.
Estimate of Burden: The public reporting burden for the Appendix I
collection of Conflict of Interest information is estimated to average
1 hour per response.
Respondents/Affected Entities: Approved Insurance Provider's
employees and their contracted agents and loss adjusters.
Estimated annual number of respondents: 20,000.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 20,000.
Estimated total annual burden on respondents (hours): 20,000.
Estimate of Burden: The public reporting burden for the Appendix I
collection of Controlled Business information is estimated to average 1
hour per response.
Respondents/Affected Entities: Approved Insurance Provider's
employed and contracted agents.
Estimated annual number of respondents: 12,500.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 12,500.
Estimated total annual burden on respondents (hours): 12,500.
All responses to this notice will be summarized and included in the
request for OMB approval. All comments will also become a matter of
public record.
Signed in Washington, DC, on March 28, 2014.
Brandon Willis,
Manager, Federal Crop Insurance Corporation.
[FR Doc. 2014-07616 Filed 4-4-14; 8:45 am]
BILLING CODE 3410-08-P